Silicon Valley may house a disproportionate number of ad tech firms, but Massachusetts is the hotbed state for all things tech and science. That’s according to Milken Institute’s State Technology and Science Index 2014, released late last week.
Milken’s index report ranks all 50 states based on five “composites” including research and development inputs, risk capital and entrepreneurial infrastructure, human capital investment, technology and science work force, and technology concentration and dynamism, per a release.
Massachusetts, which was ranked first in Milken’s last index report (2012) topped the list again, followed by Maryland, California and Colorado. Those four states were the four leaders, in that order, in 2012 as well. Utah was fifth this year after ranking seventh in 2012.
“This index shows that the science and tech sectors continue to pace the overall economy, as well as the importance of innovation in state economies. States that are traditionally strong in science and technology are building on that strength,” stated Kevin Klowden, Milken Institute managing economist.
Washington, Virginia, New Hampshire, Connecticut and Delaware round out the top 10, all of which were in the top 10 (albeit in a different order) in 2012 as well.
The report also ranks states by workforce, answering: “Where are the best places to find high-tech talent?”
Massachusetts leads in that category as well, followed by Maryland, Washington, California and Virginia. Minnesota (seventh) cracked the top 10, as did Utah (eighth). Utah was ranked 16th in the workforce category in 2012.
The full report can be found here.