Annual State Competitiveness Report Ranks Rhode Island in the Top Five States for Technology
Published on November 26, 2008
The Beacon Institute, a Boston-based think tank at Suffolk University, has named Rhode Island one of the top five most competitive states in the area of technology. The state‚??s good showing was based primarily on its educational and research assets.
Released today, the report also ranked Rhode Island third nationally both in the number of science and engineering degrees awarded per capita and in the amount of research support granted by the National Institutes of Health. The state ranked eighth in academic research and development; 13th in science and engineering graduate students; and 14th in patents. The Report uses several ‚??microeconomic foundations of prosperity‚?Ě that measure long-term competitiveness to grade each of the fifty states and also looks at whether states have comprehensive policies and conditions to ensure a high level of per capita income and growth. States with the necessary elements in place have a competitive advantage to both attract and incubate new businesses and to provide an environment that is conducive to the growth of existing firms.
Since 2006, the Rhode Island Science and Technology Advisory Council (STAC) has worked to accelerate Rhode Island‚??s economic transformation into a 21st century knowledge economy by championing and implementing programs and policies that increase the state‚??s research capacity, support entrepreneurs and new company creation and enable innovation. STAC successes include the creation of the Rhode Island Research Alliance, a platform for promoting collaboration, maximizing state and federal investment in research, and enhancing the state's R&D-related economic development opportunities; the launch of a new funding program to stimulate collaborative research projects across the state's research institutions; creation of a blue ribbon commission that has put forth a plan for strengthening research at the University of Rhode Island; and the creation of a new tax credit for investors in Rhode Island-based innovation companies.
Click here to read a PBN article on the Beacon Hill Report