Washington Ranks Second
in 2010 State New Economy Index

Report shows state competitiveness in the global, entrepreneurial, innovation- and knowledge-based New Economy.

OLYMPIA, WA –Washington joins Massachusetts, Maryland, Delaware and New Jersey in the top five states at the forefront of the nation’s movement toward a global, innovation-based new economy, according to a  report released today by ITIF and the Ewing Marion Kauffman Foundation.

Washington ranked second in both this year’s and the 2008 index. The state’s high ranking came from strong performance in manufacturing value added, exports, online population, online agriculture, scientists and engineers, patents and venture capital.

The report notes many jobs lost in the recession are never coming back and job creation is expected to be sluggish for years. This has created an imperative to develop new jobs, business models and industries.

Washington remains a leader on the front line of this crucial effort. In the 2010 State New Economy Index, ITIF shows how the states are doing in efforts to be competitive in the global, entrepreneurial, innovation- and knowledge-based New Economy. The report builds on previous reports that go back more than a decade, and uses 26 indicators to assess the states' efforts to succeed in the innovation economy.

Regionally, the New Economy has taken the strongest hold in the Northeast, mid-Atlantic, Mountain West and Pacific regions; 13 of the top 20 states are in these four regions. In contrast, 18 of the 20 lowest-ranking states are in the Midwest, Great Plains and the South.

Overall Ranks

About Commerce

The Washington State Department of Commerce is the lead state agency charged with enhancing and promoting sustainable community and economic vitality in Washington. For more information, visit www.commerce.wa.gov. For information on locating or expanding a business in Washington, visit www.choosewashington.com.