California Business Minute™

Hi, I am Tim Johnson and welcome to the California Business Minute.

California is a powerhouse of an economy, but its future direction in economic
development is misguided according to the latest results of a recent study. 
The 2010 State New Economy Index was done by the Information Technology and
Innovation Foundation for the Ewing Marion Kauffman Foundation, a proponent of
entrepreneurship.

The Golden State has fallen from 2nd to 8th position.  "California has rested
on its laurels too much while other states have put in policies that encourage
economic development," said Robert Atkinson, one of the study's authors. "It's
still a powerhouse, but its direction is down."

While California ranks high on a few of the 26 measures that compose the overall
ranking, it's near the bottom on others. The state is second in venture capital
raised by local companies and third on number of patents awarded to Californians.
But it ranks 48th in how dynamic the economy is based on skilled job growth in
newly formed companies. California also ranks 45th in its ability to attract
legal immigrants who are skilled in technology and 22nd in its ability to attract
U.S. skilled technology workers.

TOP INNOVATIVE STATES
   1. Massachusetts
   2. Washington
   3. Maryland
   4. Delaware
   5. New Jersey

LOWEST RANKED STATES
50. Mississippi
49. West Virginia
48. Arkansas
47. Alabama
46. South Dakota

I am Tim Johnson and this has been the California Business Minute.