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A new report finds that five states are leading the nation in advancing towards a knowledge and information-based economy.
In the newly-released 2008 State New Economy Index, the Kauffman Foundation and the Information Technology and Innovation Foundation (ITIF) report that Massachusetts, Washington, Maryland, Delaware and New Jersey are leading the nation in factors like technological innovation, knowledge-based jobs, and economic dynamism.
The lowest performing states were Mississippi, West Virginia, Arkansas, Alabama, and Wyoming, although they can "take advantage of new opportunities" with help from lower housing costs and traffic congestion, along with new technology that lets companies locate away from major urban areas.
"Knowledge jobs" are defined as those that require at least a two-year college degree, although the report noted that in the highly performing states, the manufacturing sector is also geared more towards a global economy and entrepreneurship activity is more pronounced.
"If they are going to meet the economic challenges of the future, states will need to overhaul their familiar approaches to economic development," said Dr. Robert D. Atkinson of the ITIF.
The report goes on to recommend various "best practices" for states to consider as they move towards a new economy and work to raise the standard of living for their residents.
States lead the way in new economy
A new report finds that five states are leading the nation in advancing towards a knowledge and information-based economy. In the newly-released 2008 State New Economy Index, the Kauffman Foundation and the Information Technology and Innovation Foundation (ITIF) report that Massachusetts, Washington, Maryland, Delaware and New Jersey are leading the nation in factors like technological innovation, knowledge-based jobs, and economic dynamism.
The lowest performing states were Mississippi, West Virginia, Arkansas, Alabama, and Wyoming, although they can "take advantage of new opportunities" with help from lower housing costs and traffic congestion, along with new technology that lets companies locate away from major urban areas.
"Knowledge jobs" are defined as those that require at least a two-year college degree, although the report noted that in the highly performing states, the manufacturing sector is also geared more towards a global economy and entrepreneurship activity is more pronounced.
"If they are going to meet the economic challenges of the future, states will need to overhaul their familiar approaches to economic development," said Dr. Robert D. Atkinson of the ITIF.
The report goes on to recommend various "best practices" for states to consider as they move towards a new economy and work to raise the standard of living for their residents.
