The Milken Institute, a nonprofit, nonpartisan think tank, ranked Utah as a top-tier state in its annual report and No. 6 in the U.S.
“Utah did several things right,” says study author Kevin Klowden, executive director of the Milken Institute’s Center for Regional Economics and California Center. “The state is anchored by three universities, matched investments by various tech and life sciences companies in the state, and sold people on the lifestyle. They built a critical mass, and that is incredibly important,” he added.
The index is a composite of five sub-indexes, which rank states on a set of indicators. These sub-indexes cover various topics:
- Research and development inputs
- Risk capital and entrepreneurial infrastructure
- Human capital investment
- Technology and science workforce
- Technology concentration and dynamism