The most innovative economy in the US? That would be California, ahead of Massachusetts and Washington. According to Bloomberg’s latest US State Innovation Index, California was top across five variables – R&D intensity, productivity, tech density, number degrees in science and engineering disciplines, and patent activity – failing only to hit first place in STEM job concentration.
Some 15% of S&P 500 companies are headquartered in California and they have access the educational blue chip likes of Stanford University, California Institute of Technology, University of California-Berkeley and UCLA.
Among the top 10, six states were on the Atlantic coast and three bordered the Pacific, with Colorado the sole landlocked territory in the top tier.
The bottom four spots were occupied by Mississippi, West Virginia, Arkansas and Louisiana. These states are HQs for just five S&P 500 companies, including Walmart, Tyson Foods, and JB Hunt Transport Services, none of which are tech firms.