New Hampshire ranked 11th most innovative state
WalletHub survey gives state high marks for STEM graduates, jobs
New Hampshire has been ranked as the 11th most innovative state in WalletHub’s ranking of 2019’s Most and Least Innovative States.
“In terms of human capital, New Hampshire has one of the largest shares of science and engineering graduates – over 46% — as well as one of the largest projected STEM job demands by 2020 – almost 5% of total employment,” said WalletHub analyst Jill Gonzalez.
To determine the rankings, WalletHub compared the 50 states and the District of Columbia, across 24 key indicators of innovation-friendliness. Two key indicators were “human capital” and “innovation environment.”
The study used a variety of data, including from the Census Bureau, the Bureau of Labor Statistics and the National Science Foundation.
According to Gonzalez, “New Hampshire has a high share of technology companies, more than 5%, and the number of invention patents per capita is over 79. Plus, the state’s intellectual property services exports are among the highest in the country – over 26% of all services exports.” In addition, “New Hampshire’s economic opportunities and business tax-friendliness attracts professionals to the state,” Gonzalez said, making it all the more attractive for new businesses to enter the market.
On the downside, Gonzalez pointed to the state’s business churn – which measures the share of businesses that opened and closed in the past year – and overall entrepreneurial activity, which is based on data from the Kauffman Index of Startup Activity. She said New Hampshire ranked among the bottom 10 states in both measures.
WalletHub said the most innovative state is Massachusetts. The least innovative is Mississippi.