Massachusetts Is One Of The Most Innovative States
WalletHub recently reported that each year, the United States spends over $600 billion on research and development. According to their analysis of innovation across the country, that research is coming in handy in the Northeast region. In fact, Massachusetts ranked as one of the most innovative states for 2024.
“The most innovative states are especially attractive to people who have majored in science, technology, engineering and math, or STEM (science, technology, engineering, and mathematics), as they offer abundant career opportunities and investment dollars, both for jobs at existing companies and for startups,” says WalletHub analyst, Cassandra Happe.
To determine which states have earned the title of most innovative for 2024, WalletHub studied human capital and the innovation environment of all 50 states, plus Washington, D.C. Within those two areas, 25 of the most important metrics were analyzed, which resulted in the ability to score and compile an official ranking system.
Massachusetts Ranked As The 2nd Most Innovative State
While this is great news, it gets even better. Only Washington, D.C. finished higher, claiming the #1 spot. So, technically, Massachusetts is the best overall state for innovation.
The Bay State finished with high marks in both human capital and innovation environment, ranking #2 in both areas.
Projected STEM-Job demand, eighth-grade math and science performance, and R and D spending per capita are examples of metrics where Massachusetts thrived. Obviously, having the Massachusetts Institute for Technology and Harvard in the state helped lead to our innovative success.
WalletHub goes on to explain that, “One major contributor is the fact that the state’s tech sector makes up nearly 13% of its total gross state product, one of the highest percentages in the country.” Highlighting our impressive math and science scores, this report also highlights how math and science are taught to kids across the state at an early age.
A great resource for this subject here is the Mass Innovation Network, which is based in Burlington. They regularly hold events, networking nights, and competitions.