The state of Hawaii has greatly improved its “position to succeed in the technology-led information age,” jumping up 11 spots to rank as the 28th best state in the State Technology and Science Index from the Milken Institute. The index looks at 77 indicators across five major components (ranging from research and development to human capital) in which Hawaii’s overall rankings have risen since it was first published in 2002.
“The future will belong to those regions that can develop a thriving technology industry in a wide variety of fast-growing fields including biotech, clean technology, nanotechnology, communications and next-generation computer applications,” the Institute said in a release. “The Index takes an objective measure of just how prepared each state is to take advantage of these opportunities.”
Massachusetts, Maryland, and Colorado took the top three spots. Mississippi ranked last for the second time, and West Virginia slid from 46th to 49th place.
Hawaii’s 28th place ranking was based on the following five components:
- Research and Development Inputs: Hawaii ranked 23rd, versus 37th in 2002.
- Risk Capital and Entrepreneurial Infrastructure: Hawaii ranked 27th, versus 40th in 2002.
- Human Capital Investment: Hawaii ranked 27th, versus 34th in 2002.
- Technology and Science Work Force: Hawaii ranked 32nd, versus 42nd in 2002.
- Technology Concentration and Dynamism: Hawaii ranked 30th, versus 50th in 2002.
“The changes in this year’s Index give a good measure of who is ahead in the increasing competition for scarce human capital and other resources needed for a successful industry,” said lead author Ross DeVol, director of Regional Economics at the Milken Institute.
The report notes that states are not only vying with each other for human capital and resources, but competing on a global level with countries like China and India.