Just How Innovative Is Connecticut?

Over the past couple of years, Connecticut has taken it on the chin as it relates to companies deciding to move out of the state, most notably General Electric which moved to Boston. Considering GE's huge commitment to research and development, the move begs the question: just how innovative is Connecticut?

According to a new report from the financial website WalletHub, the state doesn't fare too badly in that department. Connecticut is the nation's 13th most innovative state in the country, outranking New York (22nd), Texas (14th) and Florida (19th), among others.

"Innovation is a principal driver of U.S. economic growth," writes WalletHub. "In 2018, the U.S. will spend an estimated $553 billion on research and development — more than any other country in the world and over 25% of the world’s total — helping the nation rank No. 4 on the Global Innovation Index. According to the results of the ranking, knowledge and technology outputs are America’s particular strengths."

To come up with its ranking, WalletHub looked at the 50 states and Washington, DC and studied various aspects from two main categories, "Human Capital" and "Innovation Environment." For example, the site looked at the share of STEM (science, technology, engineering and math) professionals in a state and the share of technology companies, in addition to 20 other factors. Click here to read the full methodology.

GE's new home, Massachusetts, is the nation's most innovative state, followed in order by Maryland, Washington, Washington, DC and California.

"These states continue to grow innovation through investments in education, research and business creation, especially in highly specialized industries," writes WalletHub.

Bringing up the rear of the list are Mississippi (51st), Louisiana (50th), West Virginia (49th), Arkansas and Tennessee.

To read WalletHub's 2018 Most & Least Innovative States, click here.

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