Useful Stats: R&D's contributions to state economies
Like the broader metric of R&D intensity, the prominence of R&D value added in a state’s economic output has shifted within several states over the past decade. Does it matter? For sustaining a state’s innovation competitiveness, it may, and subsequently it is important to know for many state and regional TBED initiatives. Proximity to the conduct of R&D has been well documented in empirical research to support strong regional innovation economies.
Like the broader metric of R&D intensity, the prominence of R&D value added in a state’s economic output has shifted within several states over the past decade. Does it matter? For sustaining a state’s innovation competitiveness, it may, and subsequently it is important to know for many state and regional TBED initiatives. Proximity to the conduct of R&D has been well documented in empirical research to support strong regional innovation economies. Subsequently many TBED policies are designed to increase and maintain R&D activity within those boundaries as well as ensure the localized spillover effects are maximized. Determining where R&D activity is thriving and the size of its value added to the state’s GDP, particularly manufacturing-related R&D, may help inform those policy decisions. SSTI explores the latest data on state R&D value added in this Useful Stats article.