Washington ranked third most innovate state in the nation

(The Center Square) – Washington is the third most innovative state in 2022, according to study released Wednesday by the personal finance website WalletHub.

The report, “2022’s Most & Least Innovative States,” analyzed all 50 states and Washington, D.C. across the categories “Human Capital” and “Innovation Environment” and 22 key indicators of innovation-friendliness. Indicators range from the share of STEM professionals to the share of technology companies. STEM stands for science, technology, engineering, and mathematics.

The Evergreen State’s bronze medal showing was due in large part to the state’s high ranking in several categories, including coming in at No. 1 in share of STEM professionals, projected STEM-job demand by 2028, and research and development spending per capita.

Washington ranked second in share of science and engineering graduates aged 25-plus, eighth in venture funding per capita, 12th in share of technology companies, and 20th in eighth-grade math and science performance.

“Washington is the third most innovative state,” WalletHub analyst Jill Gonzalez reiterated in an email to The Center Square. “It has the largest share of STEM professionals in the country, 10.65 percent, the second largest share of science and engineering graduates, over 50%, and the highest projected STEM job demand by 2028 – more than 10% of total state employment.”

But that’s only part of the reason for Washington’s third-place finish.

“In terms of its innovation environment, the state boasts significant R&D spending and intensity, has the third highest number of invention patents per capita, and the largest tech industry gross state product, 22.5% of the total state product,” Gonzalez explained. “Other factors that contributed to Washington’s high ranking include the large amount of venture capital funding per capita, the existence of open roads and skies friendly laws [laws regarding drones and self-driving vehicles], the largest share of households with internet access, 88.3%, and the adoption of K-12 computer science standards.”

Washington bested its Pacific Northwest neighbors on WalletHub’s innovation list. Oregon and Idaho were ranked at No. 11 and No. 17, respectively.

Innovation is the principal driver of U.S. economic growth, according to the study. In 2022, the U.S. will spend nearly $600 billion on research and development, more than any other country in the world and more than a quarter of the world’s total, per the WalletHub report.

The top 10 most innovative states or state designates:

1. District of Columbia

2. Massachusetts

3. Washington

4. Maryland

5. Colorado

6. Virginia

7. California

8. Delaware

9. New Hampshire

10. Utah

The top 10 least innovate states:

51. Mississippi

50. Louisiana

49. North Dakota

48. West Virginia

47. Arkansas

46. Nebraska

45. South Dakota

44. Iowa

43. Kentucky

42. Oklahoma

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