Monday, March 26, 2007
Tweet[IWS] Kauffman: 2007 STATE NEW ECONOMY INDEX (State Benchmarking for Economic Transformation) [27 February 2007]
IWS Documented News Service
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
Information Technology & Innovation Foundation (ITIF)
Ewing Marion Kauffman Foundation
THE 2007 STATE NEW ECONOMY INDEX [27 February 2007]
Benchmarking Economic Transformation in the States
http://www.itif.org/files/2007_State_New_Economy_Index_Small.pdf
[full-text, 92 pages] -- low resolution 1mb
Press Release 27 February 2007
http://www.itif.org/files/2007SNEIRelease.pdf
[exerpt]
The Index is a state-by-state analysis of how state economies are transforming from an
old industrial economic model based on "smokestack chasing" in which economic
development success is measured by the number of big company relocations rather
than in the creation and retention of high value-added, high-wage jobs.
The 2007 State New Economy Index [SELECT STATE OF INTEREST from this SITE]
Benchmarking Economic Transformation in the States
"It is not the strongest of the species that survive, nor the most intelligent, but the ones most responsive to change." Charles Darwin
February 27, 2007
http://www.itif.org/index.php?id=30
In a report sponsored by the Ewing Marion Kauffman Foundation, ITIF employs 26 indicators to assess the extent to which the 50 state economies are structured according to the tenets of the New Economy. The changing economic landscape requires state economies to be innovative, globally-linked, entrepreneurial and dynamic, with an educated workforce and all sectors embracing the use of information technology. The report, which updates and expands on the 2002 State New Economy Index, ranks the states accordingly. The five states ranking the highest in 2007 are, in order of rank, Massachusetts, New Jersey, Maryland, Washington, and California. With these measures as a frame of reference, the report then outlines the next generation of innovative state-level public policies needed to meet the challenges of the New Economy and boost incomes of all Americans.
TABLE OF CONTENTS
INTRODUCTION:...............................................................................................................................................3
Table 1........................................................................................................................................3
Box 1 (What Information Technology Bust?).................................................................................4
OPPORTUNITIES FOR GROWTH.......................................................................................................5
Figure 1.......................................................................................................................................5
Figure 2.......................................................................................................................................6
THE NEW GLOBAL COMPETITIVENESS CHALLENGE .......................................................................7
Box 2 (Indian State Economic Development Efforts).....................................................................8
NEW GLOBAL ECONOMY, NEW ECONOMIC STRATEGIES ............................................................10
THE INDICATORS.............................................................................................................................................11
OVERVIEW AND METHODOLOGY .................................................................................................11
THE RANKINGS...............................................................................................................................13
SUMMARY OF RESULTS ...................................................................................................................18
KNOWLEDGE JOBS..........................................................................................................................20
Information Technology Jobs ......................................................................................................21
Managerial, Professional, and Technical Jobs .............................................................................22
Workforce Education .................................................................................................................23
Immigration of Knowledge Workers ...........................................................................................24
Manufacturing Value-Added.......................................................................................................25
High-Wage Traded Services .......................................................................................................26
GLOBALIZATION.............................................................................................................................27
Export Focus of Manufacturing and Services ..............................................................................28
Foreign Direct Investment ..........................................................................................................29
Package Exports .........................................................................................................................30
ECONOMIC DYNAMISM..................................................................................................................31
"Gazelle" Jobs ...........................................................................................................................32
Job Churning.............................................................................................................................33
Fastest Growing Firms ................................................................................................................34
Initial Public Offerings ...............................................................................................................35
Entrepreneurial Activity..............................................................................................................36
Inventor Patents.........................................................................................................................37
THE DIGITAL ECONOMY.................................................................................................................38
Online Population.....................................................................................................................39
Internet Domain Names.............................................................................................................40
Technology in Schools ...............................................................................................................41
E-Government...........................................................................................................................42
Online Agriculture .....................................................................................................................43
Broadband Telecommunications ................................................................................................44
INNOVATION CAPACITY..................................................................................................................45
High-Tech Jobs...........................................................................................................................46
Scientists and Engineers .............................................................................................................47
Patents ......................................................................................................................................48
Industry Investment in R&D .......................................................................................................49
Venture Capital ..........................................................................................................................50
ECONOMIC DEVELOPMENT STRATEGIES FOR THE NEW ECONOMY......................................................51
Align Incentives Behind Innovation Economy Fundamentals......................................................52
Co-invest in an Infrastructure for Innovation ..............................................................................54
Co-invest in the Skills of the Workforce .....................................................................................58
Cultivate Entrepreneurship .........................................................................................................60
Support Industry Clusters ...........................................................................................................61
Reduce Business Costs without Reducing the Standard of Living ...............................................62
Help Boost Productivity .............................................................................................................64
Reorganize Economic Development Efforts................................................................................66
Enlist Federal Help .....................................................................................................................67
Conclusion................................................................................................................................68
DATA SOURCES ................................................................................................................................................69
APPENDIX: Weighting Methodology...............................................................................................................73
ENDNOTES........................................................................................................................................................74
ABOUT THE AUTHORS....................................................................................................................................87
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
Information Technology & Innovation Foundation (ITIF)
Ewing Marion Kauffman Foundation
THE 2007 STATE NEW ECONOMY INDEX [27 February 2007]
Benchmarking Economic Transformation in the States
http://www.itif.org/files/2007_State_New_Economy_Index_Small.pdf
[full-text, 92 pages] -- low resolution 1mb
Press Release 27 February 2007
http://www.itif.org/files/2007SNEIRelease.pdf
[exerpt]
The Index is a state-by-state analysis of how state economies are transforming from an
old industrial economic model based on "smokestack chasing" in which economic
development success is measured by the number of big company relocations rather
than in the creation and retention of high value-added, high-wage jobs.
The 2007 State New Economy Index [SELECT STATE OF INTEREST from this SITE]
Benchmarking Economic Transformation in the States
"It is not the strongest of the species that survive, nor the most intelligent, but the ones most responsive to change." Charles Darwin
February 27, 2007
http://www.itif.org/index.php?id=30
In a report sponsored by the Ewing Marion Kauffman Foundation, ITIF employs 26 indicators to assess the extent to which the 50 state economies are structured according to the tenets of the New Economy. The changing economic landscape requires state economies to be innovative, globally-linked, entrepreneurial and dynamic, with an educated workforce and all sectors embracing the use of information technology. The report, which updates and expands on the 2002 State New Economy Index, ranks the states accordingly. The five states ranking the highest in 2007 are, in order of rank, Massachusetts, New Jersey, Maryland, Washington, and California. With these measures as a frame of reference, the report then outlines the next generation of innovative state-level public policies needed to meet the challenges of the New Economy and boost incomes of all Americans.
TABLE OF CONTENTS
INTRODUCTION:...............................................................................................................................................3
Table 1........................................................................................................................................3
Box 1 (What Information Technology Bust?).................................................................................4
OPPORTUNITIES FOR GROWTH.......................................................................................................5
Figure 1.......................................................................................................................................5
Figure 2.......................................................................................................................................6
THE NEW GLOBAL COMPETITIVENESS CHALLENGE .......................................................................7
Box 2 (Indian State Economic Development Efforts).....................................................................8
NEW GLOBAL ECONOMY, NEW ECONOMIC STRATEGIES ............................................................10
THE INDICATORS.............................................................................................................................................11
OVERVIEW AND METHODOLOGY .................................................................................................11
THE RANKINGS...............................................................................................................................13
SUMMARY OF RESULTS ...................................................................................................................18
KNOWLEDGE JOBS..........................................................................................................................20
Information Technology Jobs ......................................................................................................21
Managerial, Professional, and Technical Jobs .............................................................................22
Workforce Education .................................................................................................................23
Immigration of Knowledge Workers ...........................................................................................24
Manufacturing Value-Added.......................................................................................................25
High-Wage Traded Services .......................................................................................................26
GLOBALIZATION.............................................................................................................................27
Export Focus of Manufacturing and Services ..............................................................................28
Foreign Direct Investment ..........................................................................................................29
Package Exports .........................................................................................................................30
ECONOMIC DYNAMISM..................................................................................................................31
"Gazelle" Jobs ...........................................................................................................................32
Job Churning.............................................................................................................................33
Fastest Growing Firms ................................................................................................................34
Initial Public Offerings ...............................................................................................................35
Entrepreneurial Activity..............................................................................................................36
Inventor Patents.........................................................................................................................37
THE DIGITAL ECONOMY.................................................................................................................38
Online Population.....................................................................................................................39
Internet Domain Names.............................................................................................................40
Technology in Schools ...............................................................................................................41
E-Government...........................................................................................................................42
Online Agriculture .....................................................................................................................43
Broadband Telecommunications ................................................................................................44
INNOVATION CAPACITY..................................................................................................................45
High-Tech Jobs...........................................................................................................................46
Scientists and Engineers .............................................................................................................47
Patents ......................................................................................................................................48
Industry Investment in R&D .......................................................................................................49
Venture Capital ..........................................................................................................................50
ECONOMIC DEVELOPMENT STRATEGIES FOR THE NEW ECONOMY......................................................51
Align Incentives Behind Innovation Economy Fundamentals......................................................52
Co-invest in an Infrastructure for Innovation ..............................................................................54
Co-invest in the Skills of the Workforce .....................................................................................58
Cultivate Entrepreneurship .........................................................................................................60
Support Industry Clusters ...........................................................................................................61
Reduce Business Costs without Reducing the Standard of Living ...............................................62
Help Boost Productivity .............................................................................................................64
Reorganize Economic Development Efforts................................................................................66
Enlist Federal Help .....................................................................................................................67
Conclusion................................................................................................................................68
DATA SOURCES ................................................................................................................................................69
APPENDIX: Weighting Methodology...............................................................................................................73
ENDNOTES........................................................................................................................................................74
ABOUT THE AUTHORS....................................................................................................................................87
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
# posted by SBasefsky : 12:11 PM
