RALEIGH – North Carolina isn’t hitting above its numbers when the subject is economic performance with new business startup activity – or lack thereof – and what the study calls “innovation potential” helping drag down the overall score.
The nation’s ninth largest state in terms of population ranks 10th among states and the District of Columbia in a new economic survey from economic and consumer information site WalletHub.
When it comes to startup, WalletHub ranks North Carolina 18th, based in part on data from The Kauffman Index of Startup Activity.
Durham No. 7, Raleigh No. 8, Charlotte No. 6 on best cities to start a business list
In fact, the state scored 12th for “Innovation Potential.”
The report, based on 28 various indicators of economic performance, includes state gross domestic product, startup activity and jobs in high tech.
In key categories, here is how WalletHub scored North Carolina:
- 12th – GDP growth
- 18th – Startup activity
- 9th – Percentage of jobs in high-tech industries
- 13th – Change in nonfarm Payrolls
- 9th – Government surplus/deficit per capita
In the three categories on which states were scored, North Carolina ranled
- 15th for economic activity
- 11th for economic health
- 12th for innovation potential
Innovation potential breaks down as:
- Share of Jobs in High-Tech Industries
- Share of STEM Employment
- Independent Inventor Patents per 1,000 Working-Age Population
- Industry R&D Investment Amount per Total Civilian Employed Population
- Nonindustry R&D Investment Amount as Share of GDP
- Entrepreneurial Activity
For more details, read the entire study online.
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