Milken Institute Names Maryland #3 in National State Technology and Science Index
In a report issued by the Milken Institute entitled “2018 State Technology and Science Index-Sustaining America’s Innovation Economy,” Maryland once again ranks third on the Index. Behind only Massachusetts and Colorado, Maryland retained its #3 ranking from the last report, issued in 2016. According to the report, factors that influenced Maryland’s high rank include the abundance of the state’s technology and science workforce as evidenced by the high concentration of computer and information science experts, concentration of engineers, and concentration of life and physical scientists. Maryland’s highly-educated, skilled workforce, combined with the proximity of more than 30 federal agencies, make it a premier place for employment in these areas.
The State Technology and Science Index (STSI) evaluates states’ science and technology capabilities in terms of 107 indicators, which fall into five broad categories:
- Research and development inputs;
- Risk capital and entrepreneurial infrastructure;
- Human capital investment;
- Technology and science workforce; and
- Technology concentration and dynamism.
Company expansion, high-skills job creation, broad economic growth, and each state’s innovation pipeline are some of the factors considered and the 2018 report offers insights into state initiatives and practices that support “technology advancement, knowledge-based development, and entrepreneurship.”
For complete information, read the entire report here.