A lot of the success we’ve seen locally, with respect to commercial real estate and beyond, has been driven largely by one overarching thing, innovation. That’s part of what led GE to relocate its headquarters here, and it’s what led Boston to climb the ranks to 2nd nationally and 5th globally in JLL’s latest Cities Momentum Index.
Now, the area can add yet another accolade to the list. Massachusetts was recently crowned America’s Most Innovative State by Bloomberg. California, driven largely by Silicon Valley, ranked a close 2nd, while Washington, New Jersey and Connecticut rounded out the top 5.
The Bloomberg U.S. Innovation Index scored each of the 50 states on a 0-100 scale across six equally weighted metrics: R&D intensity; productivity; high-tech density; concentration of science, technology, engineering and mathematics (STEM) employment; science and engineering degree holders; and patent activity.
Massachusetts ranked particularly high in the areas of high-tech density, R&D intensity, and patent activity.
“This year was further recognition that Boston is one of the most important ‘innovation hubs’ in the world,” said JLL New England Research Manager Lisa Strope. “Driven by unprecedented job growth in knowledge-intensive industries, such as technology and life sciences, Boston has become a critical and strategic location for many growing global brands.”