Report: Virginia remains one of most innovative states in country
(The Center Square) – Virginia remains one of the most innovative spots in the country, according to a report published by the financial website WalletHub this week.
When compared to the other 49 states and the District of Columbia, the commonwealth ranked 5th in overall innovation, scoring 66.88 out of a possible 100. It ranked third in human capital and ninth in innovation environment.
Virginia had the highest share of technology companies in the country with Washington, D.C. following in second and third. It had the third fastest internet speed behind New York and Maryland and tied for fourth place with the highest share of STEM professionals.
“[The commonwealth’s] share of STEM professionals is the fourth highest in the country at 9.1%, it has a high percentage of science and engineering graduates — over 48, and ranks first in terms of the projected STEM job demand by 2028,” Jill Gonzalez, an analyst for WalletHub, told The Center Square.
“In addition, Virginia has high AP exam participation, more than 42% of public high school students, the highest share of tech companies, almost 8%, and over 13% of its total state product comes from the tech industry.,” Gonzalez said. “Other factors that contributed to the state’s high ranking include high annual federal small business funding per GDP, high internet speed and the adoption of K-12 computer science standards.”
The human capital ranking considered several criteria, including STEM jobs, science and engineering graduates, scientific knowledge output, eighth-grade math and science performance and AP exam participation. Some of the criteria considered for the environment ranking included the share of technology companies, per-capita research and development spending, migration, business startups and entrepreneurial activity.
Massachusetts was the top state for innovation, followed by the District of Columbia, Washington and Maryland. The worst state was Mississippi with Louisiana, North Dakota and West Virginia close behind.
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