January 31, 2008
Massachusetts: It Really Is All Here
By Cory Hopkins
The knowledge-based, innovation economy in Massachusetts puts the state among the leading players in the global marketplace, according to a new report.
The 2007 Index of the Massachusetts Innovation Economy, released by the Westborough-based Massachusetts Technology Collaborative's John Adams Innovation Institute, compared Massachusetts to competitor states and global regions in key technological segments, including renewable energy and the life sciences.
Released every year since 1997, the most recent report was the first year in which the state's competitive edge was tested against international competition. The results are impressive.
The study found that the commonwealth invests more than 5 percent of its Gross State Product on research and development, the best performance of any region in the world. The report also found the overall demand for Massachusetts' exports is growing at an annual rate of 10 percent, also placing it near the top of the global list.
It isn't all sunshine and roses, however.
The study also found that the state is failing to capitalize on emerging IT hardware markets. The Bay State's historical edge in producing a talented, highly educated workforce, is also being diluted as countries like China, South Korea and Japan focus their attention to science, technology and engineering education.
The 2007 Index of the Massachusetts Innovation Economy, released by the Westborough-based Massachusetts Technology Collaborative's John Adams Innovation Institute, compared Massachusetts to competitor states and global regions in key technological segments, including renewable energy and the life sciences.
Released every year since 1997, the most recent report was the first year in which the state's competitive edge was tested against international competition. The results are impressive.
The study found that the commonwealth invests more than 5 percent of its Gross State Product on research and development, the best performance of any region in the world. The report also found the overall demand for Massachusetts' exports is growing at an annual rate of 10 percent, also placing it near the top of the global list.
It isn't all sunshine and roses, however.
The study also found that the state is failing to capitalize on emerging IT hardware markets. The Bay State's historical edge in producing a talented, highly educated workforce, is also being diluted as countries like China, South Korea and Japan focus their attention to science, technology and engineering education.
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