Washington Boasts High Employment Growth

Washington has the second highest employment growth rate in the U.S., according to the 2001 Index of Innovation and Technology for Washington — a report released by the Washington Technology Center. The state's 33 percent increase in employment growth rate over the last five years allowed it to move up four positions, second only to Utah. 



The report reinforces numerous trends found in the 2000 Index. Among them is the growth of capital investment in Washington companies. Washington's overall rate of growth in venture investment during the past two years has grown at more than half the rate of other major regions. However, Washington's rate is much smaller than that of most other areas of the country. The report suggests that this trend could cause the state to fall behind other regions. 



The report also draws numerous other comparisons, weighing Washington's numbers against those of other states and national averages. Below is a sample of other findings in each of six major areas: 

• Innovation: Washington ranks 1st of all states in the creation of new companies. 
• Competitiveness: Washington ranks 4th in the value of exports and 2nd in exports per capita. 
• Growth: Washington ranks 1st for average technology job wages (1996-1998). 
• Financial Capacity: Washington ranks near the middle for technology Initial Public Offerings among peer states. 
• Human Potential: Washington's 4-year higher education institutions grant roughly 4,500 science and technology degrees each year. 
• Quality of Life: Washington ranks 4th in state park visits per capita, more than three times the national average. 

The 2001 Index of Innovation and Technology — Washington State is available through the Washington Technology Center at: http://www.watechcenter.org/techindex