According to the latest Bloomberg Index published in late December, New Jersey is the fourth most innovative state in the country. New Jersey’s finish marks the second consecutive year the state has received a top five ranking (fourth ranked in 2015).
New Jersey’s rank was tops among the tri state area, as well as its neighboring states. Connecticut finished three spots below New Jersey at seven, while Delaware checked in at 12. Bloomberg ranked New York as the 18th most innovative state, and Pennsylvania just cracked the top 25 at 24.
The Bloomberg Innovation Index rates each of the fifty states in six different categories: research and development Intensity, productivity, high-tech density, concentration of science, technology, engineering, and mathematics employment, science and engineering degree holders and patent activity. Each state is awarded points on a 0-100 scale in each category.
New Jersey finished with a total score of 80.17, scoring highest in tech company density where the state ranked fifth. The state finished in the top 15 in each of the remaining five categories, including the tenth ranking in science and engineering degree holders.
Massachusetts, fueled by its higher-education institutions and an unemployment rate that is almost two points below the national average, was once again recognized as the top state for innovation with a total score of 94.82. California and Washington followed Massachusetts in the rankings.
A full list of the 2016 U.S. Bloomberg State Innovation Index can be found here.
