The 2020 State New Economy Index ranked Utah third overall when comparing the state’s economy to the ideal structure of the innovation-driven new economy.
The index uses 25 indicators to measure the extent to which state economies are knowledge-based, globalized, entrepreneurial, IT-driven and innovation-oriented.
The purpose of the State New Economy Index is to measure a states’ economic structure. The study narrowly focused on one question: To what degree does the 50 state economies’ structure match the ideal structure of the innovation-driven new economy? The index used several variables to measure state economies’ degrees of global integration.Read More