Arizona ranked 19th in its ability to create high-paying and future-proofed jobs in 2014. This placed Arizona among the second tier of states according to the Milken Institute’s State Technology and Science Index. The index provides an assessment of each state’s technology and science capabilities and their impact on regional economic growth. A key finding from the report indicates that technology and science jobs have continued to develop a larger share of the U.S. economy while more traditional/lower-skilled sectors have been slow to regain pre-recession levels. Additionally, states that have invested in innovation and education emerged stronger from the recession. To view each state's ranking scroll over the map below and don't forget to note the indicator arrow on the legend.
The Milken State Technology and Science index is composed of five equally weighted composites, which includes 78 individual indicators such as population, gross state product, and number of establishments. These indicators are combined to create the five composites: Research and Development Inputs, Risk Capital and Entrepreneurial Infrastructure, Human Capital Investment, Technology and Science Workforce, and Technology Concentration and Dynamism.
Among the five composite indices that make up the State Technology and Science Index Arizona ranked in the second tier of states in four of the five, placing 14th in the Technology and Science Workforce Composite Index, 16th in the Technology Concentration and Dynamism Composite Index, and 17th in both the Research and Development Inputs and Risk Capital and Entrepreneurial Infrastructure Composite Indices. Arizona’s lowest ranking was in the Human Capital Investment Composite Index with a 29th place, but on a positive note, this was a six spot improvement from the state’s ranking of 35th in 2012.
Arizona's score of 59.0 in the State Technology and Science Index ranked it sixth among the 10 western states explored on the MAP Dashboard. California received the highest score (79.6) among the 10 western states, while Nevada received the lowest score (30.8). Scores are assigned for each of the 78 indicators with the top state being assigned a score of 100, the runner-up a score of 98, and the 50th state a score of 2. The indicators are then combined to create each of the composite rankings and the overall State Technology and Science score. To view the score for each of the western states, scroll across the map below.
To learn more about the State Technology and Science Index you may find the report here: The State Technology and Science Index – Enduring Lessons for the Intangible Economy. The report was published by the Milken Institute. The Milken Institute is a nonprofit, nonpartisan economic think tank. They work to improve lives around the world by advancing innovative economic and policy solutions that create jobs, widen access to capital, and enhance health (www.milkeninstitute.org).
