Innovation is a principal driver of U.S. economic growth — in 2016, the nation spent about $514B on public and private R&D. It is also a demand-driver in individual real estate markets. According to a new study by WalletHub, Colorado is No. 5 among the states for fostering innovation through investments in education, research and business creation, especially in highly specialized industries.
The company compared the 50 states and DC across 18 key indicators of innovation-friendliness. These metrics included share of STEM professionals, R&D spending per capita, tech-company density, science education performance and VC funding per capita.
DC, with its preponderance of federal institutions and dollars, came in at No. 1, and for similar reasons, Maryland was No. 2. Next were Massachusetts, California and Colorado, which bested Virginia, Utah, Connecticut and New Hampshire, to round out the top 10. The least innovative state, according to WalletHub? West Virginia.
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