January 27, 2011

Massachusetts Number One in Knowledge Based Economy

newsHow does your state foster innovation and invest in modern, knowledge based business? I have a hint – they don’t do it as well as Massachusetts, at least according to the Milken Institute.

The comprehensive study by the Milken Institute looks at 79 different indicators. They judge investment in technical infrastructure, growth objectives, education, and human capital development. We seem to be asked to assume that a movement toward a knowledge based economy is an inevitable trend. Most likely, these findings do indicate a real trajectory for future employment growth and innovative businesses.

The full study can be viewed here: http://www.milkeninstitute.org/tech/tech2010.taf

This study is important in that it may predict future economic growth – but also in that it provides valuable marketing. States which invest heavily in new industry and education can use this material as proof of their efforts – inviting further job growth and corporate investment and hiring. Leaders in the recruiting field often chair committees that govern human capital expenditures and job creation programs. They also steer the geographic directionality of hiring. For either purpose, the survey is important to consider.

Read more news in State Labor Stats

Marie is a writer for Recruiter.com covering career advice, recruitment topics, and HR issues. She has an educational background in languages and literature as well as corporate experience in Human Resources.