New Jersey Is One Of The Most Innovative States
WalletHub recently reported that each year the United States spends over $600 billion on research and development. According to their analysis of innovation across the country, that research is coming in handy in the Northeast region. In fact, New Jersey ranked in the top 10 states for innovation this year.
“The most innovative states are especially attractive to people who have majored in science, technology, engineering, and math, or STEM (science, technology, engineering, and mathematics), as they offer abundant career opportunities and investment dollars, both for jobs at existing companies and for startups,” says WalletHub analyst, Cassandra Happe.
To determine which states have earned the title of most innovative for 2024, WalletHub studied human capital and the innovation environment of all 50 states, plus Washington DC. Within those two areas 25 of the most important metric were analyzed, which resulted in the ability to score and compile and official ranking system.
New Jersey Ranked As The 10th Best State For Innovation
The Garden State scored particularly high in human capital. In totality, New Jersey was just slightly behind 9th-ranked Utah. In the Northeast, only Massachusetts finished here at number two.
An interesting takeaway from WalletHub’s report is that New Jersey is a particularly strong area for internet use, ranking fourth for average internet speed. There must be something special about the connectivity in this region of the country, with New Hampshire, Connecticut, Delaware, and Maryland all rounding out the top five states for internet speed.
Highlighting what makes a state successful when it comes to innovation in 2024, WalletHub says, “These states continue to grow innovation through investments in education, research and business creation, especially in highly specialized industries.”
Though New Jersey is the tri-state champion here, our neighboring states did rank too badly either. Connecticut ranked 15h, New York finished 24th, and Pennsylvania was more in the middle at 28.
