Washington States Innovation Economy Again Ranks Near The Top

Washington state routinely ranks near the top for innovation, and 2019 is no exception.

The state was ranked as the No. 2 most innovative state in the United States in WalletHubs annual innovation index. Massachusetts finished No. 1.

Washington was recognized for its share of science and engineering graduates over the age of 25, its share of STEM professionals and its projected STEM-job demand by 2020. It also scored highly for venture-capital funding per capita and spending on research and development.

The report is consistent with previous reports from WalletHub and other organizations that consistently rank the state as among the most innovative in the country. WalletHub ranked the state No. 3 last year, and Forbes recently named Washington No. 6 for innovation.

Amazon and Microsoft certainly deserve credit for creating an innovation cluster here, but the Washington Technology Alliance has previously identified other key drivers for innovation, including the states entrepreneurial and research strength in areas ranging from patents to percentage of jobs in advanced industries.

WalletHub examined 24 metrics, including Internet speed, tech-company density, STEM jobs and eighth-grade science and math performance. The Washington, D.C.-based financial website noted that the U.S. will spend an estimated $581 billion on research and development this year, more than any country in the world and about 25 percent of the worlds total.

Louisiana and Mississippi ranked at the bottom of WalletHubs study.