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April 17, 2019

Bloomberg: CT has 4th most innovative economy

PHOTO | HBJ File The Hartford skyline
By Joe Cooper

Based on its presence of science, technology, engineering and math workers, density of tech companies, and research and development capabilities, Connecticut has the nation’s fourth most innovative economy, according to a new study by Bloomberg.

Bloomberg’s latest U.S. State Innovation Index released Tuesday calculated Connecticut’s innovation prowess based on several measures and only ranked California, Massachusetts and Washington ahead of the Nutmeg State.

Connecticut moved up three spots from seventh place in Bloomberg’s 2016 ranking.

Bloomberg ranked states based on: research and development intensity; clusters of companies in technology; STEM (science, technology, engineering and mathematics) jobs; patent activity; productivity; and the number of people with degrees in science and engineering.

Bloomberg ranked Connecticut between seventh and 13th in each equally-weighted metric.

The state ranked No. 7 in patent activity, No. 8 in research and development intensity, productivity and technology company density, and No. 12 and No. 13 in STEM concentration and science/engineering degree holders, respectively. Its total score was 79.7, ahead of Maryland (77.7), Delaware (76.7) and Oregon (73.9).

Also in New England, New Hampshire ranked No. 8 followed by Vermont (No. 21), Rhode Island (No. 23) and Maine (No. 41).

Southern states mostly rounded out Bloomberg’s bottom 10 for innovative economies, with Mississippi, West Virginia, Arkansas, Louisiana and Alabama in the bottom five, respectively.

View Bloomberg’s full study here

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