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Governor M. Jodi Rell today announced that Connecticut ranks among the top six states in the country that are advancing toward the New Economy, according to a report issued by the Kauffman Foundation (www.kauffman.org).
The State New Economy Index uses 29 indicators to rank each state on the extent to which its economy is structured and operates to effectively compete nationally and globally. It divides the indicators into five categories that best capture what is new about the New Economy: knowledge jobs, globalization, economic dynamism, transformation to a digital economy and technological innovation capacity.
“Creating and nurturing a culture of innovation in Connecticut is critical to economic development,” the Governor said. “Our goal is to keep the jobs that we have and grow new ones every day. We want to make it easier for companies to perform research that leads to cutting-edge products, and we want to make it easier to move from the R&D labs to the production floor.”
States at the top of the Kauffman Foundation rankings tend to have a high concentration of managers, professionals and college-educated residents working in “knowledge jobs”—those that require at least a two-year degree. Manufacturers in these top-ranking states generally are more geared toward global markets, both in terms of export orientation and the amount of foreign direct investments.
Governor Rell announced this week that Connecticut exports have grown by 12.57 percent over last year and the $10 billion industry remains one of the strongest sectors of the state’s economy.
“Connecticut is home to some of the smartest and savviest people on the planet,” Governor Rell said. “We have two of the world’s finest research universities and our state has always been home to innovation – from the early days of firearms manufacturing to the high-tech worlds of aeronautics, biomedical research and pharmaceuticals today. We must continue to build on that foundation.”
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