According to their web site, the Milken Institute “is a publicly supported, nonpartisan, independent think tank whose work makes a difference in the lives of people worldwide by helping create a more democratic and efficient global economy.”
They recently published their “2008 State Technology and Science Index” which ranks states on their ability to take advantage of tech-science related economic growth. It includes 77 unique indicators that are categorized into five major components: Research and Development Inputs, Risk Capital and Entrepreneurial Infrastructure, Human Capital Investment, Technology and Science Work Force, and Technology Concentration and Dynamism.
Guess where West Virginia ranks on most indicators?
What is most discouraging is that we actually slipped backward in many rankings from 2004 to 2008 (from 46th to 49th overall). Lest we think these rankings are biased towards large states with bigger resources: And lest we get discouraged that a low-ranking state can’t make huge leaps in a relatively small period of time, North Dakota jumped 14 spots from 45th in 2004 to 31st place in 2008:
New Hampshire breaks into the top ten overall, moving up from 12th to 9th place. The state is boosted by its performance in the Research and Development Inputs Composite Index, where it places 5th. New Hampshire ranks 2nd in the nation for phase II Small Business Innovation Research awards per 10,000 business establishments and places in the top five for academic R&D dollars per capita. New Hampshire’s enhanced prowess in the technology and science commercialization area is highlighted by its 5th-place finish in the percentage of establishments in high-tech industries.
[North Dakota’s] meteoric rise was driven by advancements in STTR awards; R&D expenditures in biomedical, physical sciences, and engineering; and improvements in industry R&D. North Dakota’s strong momentum stems from the state government’s commitment to develop “Centers of Excellence.” Unveiled in 2004, this plan earmarks a portion of the state budget to matching funds for universities and colleges that develop Centers of Excellence that foster regional development in science and technology.
So we’re on the right track with Bucks for Brains, but we have to ensure those dollars get invested wisely and commercialized efficiently. North Dakota also gained from its efforts to retain talent through $5,000 tuition reimbursements for students in technology and teaching fields who chose to work in-state after graduating from local universities. (West Virginia’s Promise Scholarship delivers its scholarship investment in students up front, but currently has no built-in incentive for staying in state after graduation.)
The current and future success of economies is tied more and more to technology. We can’t afford to be ranked at the bottom of these categories year after year. Isn’t it time we elevate this to the #1 issue for the long-term well-being of our state?
Leave a Reply