economic impact report
MA, RI Release State Innovation Benchmark Studies
TBED organizations in Massachusetts and Rhode Island recently published comprehensive reviews of their respective state innovation economies. Both studies employ metrics of the general economy, as well as indicators of STEM education, research, venture investment and technology industry activity. They also use data from other state economies to track their progress in creating a vibrant and sustainable innovation ecosystem. The reports provide a useful set of innovation metrics that can be applied in other regions.
Massachusetts
U.S. Manufactures Face a Shortage of Skilled Workers, According to New Report
American manufacturing companies cannot fill as many as 600,000 skilled positions — even as unemployment numbers hover at historic levels — according to Boiling Point? The Skills Gap in U.S. Manufacturing, a new report from Deloitte and the Manufacturing Institute. This annual skills report provides a stark snapshot of the manufacturing sector's inability to find qualified workers.
New ITIF Report Benchmarks National Policies and Programs Supporting Manufacturers
The Information Technology & Innovation Foundation (ITIF) released International Benchmarking of Countries' Policies and Programs Supporting SME Manufacturers — a new report that identifies and analyzes manufacturing support programs and practices for small- and medium-sized enterprises (SMEs) that have been implemented in ten foreign countries (i.e., Argentina, Australia, Austria, Canada, China, Germany, Japan, Korea, Spain and the United Kingdom), in addition to those of the United States. The authors, Stephen Ezell and Robert D.
University R&D and Venture Capital Rise, While Business Growth Declines in Maine
Three recent reports from Maine provide insight into the challenges of fostering an innovative economy in a rural state. Overall, the research suggests that Maine has done well in its efforts to support startups, but could do more to help those startups expand and find new markets. By encouraging innovation-based businesses to expand to markets outside of Maine and by offering mentoring services, the state could overcome the stagnation that can occur when companies and states focus on local markets.
Decline in U.S. Manufacturing: to Cluster or Diversify One's Economy?
A recent Brookings Institution report looks at the nearly 30-year impact of manufacturing's global realignment on US metropolitan areas, finding those with the highest dependence on manufacturing were impacted in several negative ways in addition to the losses in manufacturing. In particular, the resilience of the most manufacturing-centered economies — their ability to transition employment into other sectors — was particularly poor, many experiencing below national average growth in jobs and wages.