Where not to go, if you're in the technology business
By Staff -- Manufacturing Business Technology, 6/1/2004 12:00:00 AM
Massachusetts again topped all other states as best positioned to take advantage of a high-tech economy, while Mississippi dropped from 49th to last place, according to an annual survey conducted by Milken Institute, a Los-Angeles-area think tank backed by former junk-bond trader, ex-convict, and multimillionaire Michael Milken.
The institute uses a matrix of 75 indicators grouped in five categories to measure how well a state will perform in today's knowledge-based economy. The five composite categories are:
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Research & development inputs
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Risk capital and entrepreneurial infrastructure
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Human capital investment
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Technology and science workforce
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Technology concentration and dynamism
Indicators include a wide range of measurements, such as percentage of a state's population with Ph.D.s, research & development expenditures per capita, and venture capital investment.
Massachusetts, with a composite score of 84.35, was the only state to score above 80 on the 100-point scale. Mississippi had a composite score of 27.48. The average state score was 52.64.
Rhode Island gained the most ground in the survey over last year, moving from 21st to 10th place. Texas took the biggest hit, diving from 14th to 23rd.
"Places that can attract, grow, and retain [companies] and industries proficient in deploying information technology, in addition to producing it, will be at a competitive advantage," the report states. "The degree to which a state's knowledge assets are harnessed and converted into successful innovations, products, and services determines its economic future."
The Top Five:
| Massachusetts | 84.35 |
| California | 78.86 |
| Colorado | 78.77 |
| Maryland | 78.19 |
| Virginia | 72.27 |
The Bottom Five:
| West Virginia | 33.65 |
| South Dakota | 33.31 |
| Kentucky | 32.61 |
| Arkansas | 29.53 |
| Mississippi | 27.48 |
