Utah is ranked fifth in the nation in the 2010 Milken Institute State Technology and Science Index released on Tuesday. The state moved up three slots, ousting Washington by 1 point. It is the only state in the top five to move up from in rank from the previous report. Topping the list are Massachusetts, Maryland, Colorado, California and Utah, in descending order. From the executive summary:
“Utah shot up three spots to fifth, edging out 2008’s fifth-ranked Washington by 1.0 point with a score of 71.26. Utah retained its throne as the top-ranked state in technology concentration and dynamism, and finished in the top eight in all components except R&D inputs, where it was a still respectable 13th.Driving its ascent were a four-place improvement in R&D inputs, an 11-place leap in risk capital and entrepreneurial infrastructure, and a three-place gain in technology and science workforce. Risk capital availability has improved in the state with its venture capital placements relative to GSP now fifth in the nation.”
The index is created by comparing five components: research and development inputs; risk capital and entrepreneurial infrastructure; human capital capacity; technology and science workforce; and technology concentration and dynamism. Various areas of educational attainment are taken into consideration for the indicator “human capital capacity.” Utah ranked in the top eight in the nation for all but one indicator, R&D inputs, which was 13th.