Wednesday, May 29, 2024

Study finds Louisiana as least innovative state in the U.S.

by BIZ Magazine

With the U.S. spending over $600 billion per year on R&D, the personal-finance website WalletHub today released its report on 2023’s Most & Least Innovative States, as well as expert commentary.

In order to give credit to the states that have contributed the most to America’s innovative success, WalletHub compared the 50 states and the District of Columbia across 22 key metrics. The data set ranges from share of STEM professionals to R&D spending per capita.

Innovation in Louisiana (1=Most Innovative, 25=Avg.):

  • 50th – Share of STEM Professionals
  • 47th – Projected STEM-Job Demand by 2030
  • 27th – Eighth-Grade Math & Science Performance
  • 43rd – Share of Science & Engineering Graduates Aged 25+
  • 39th – Share of Technology Companies
  • 49th – R&D Spending per Capita
  • 47th – Venture-Capital Funding per Capita

Innovation is a principal driver of U.S. economic growth. The U.S. spends more than any other country in the world and more than 25% of the world’s total. This has helped the nation rank second on the Global Innovation Index, behind only Switzerland. According to the results of the ranking, the sophistication of America’s market and businesses, as well as its knowledge and technology outputs, are the country’s particular strengths.

Certain states deserve more credit than others for the dominance of the U.S. during the tech era, though. These states continue to grow innovation through investments in education, research and business creation, especially in highly specialized industries.

WalletHub’s data set ranges from share of STEM professionals to R&D spending per capita to tech-company density.

For the full report, please visit:
https://wallethub.com/edu/most-innovative-states/31890

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