Wednesday, November 19, 2008

2008 State New Economy Index

Despite gloomy economic headlines, the long-term future for technology workers in Massachusetts looks bright, according to two new reports.

2008 State New Economy Index

Massachusetts not only boasts championship sports teams, the state tops the standings in the 50-state New Economy league, according to 2008 State New Economy Index. Massachusetts finished in first place in 1999, 2002, and 2007, as well.

The State New Economy Index focuses on answering one single question: To what degree does the structure of state economies match the ideal structure of the New Economy?

The principal driver of the New Economy is the information technology revolution.

"This 'IT engine' is unlikely to slow down anytime soon. For the foreseeable future, the most promising New Economy advances will relate to a state’s ability to use information more effectively."

A press release is available from the Kauffman Foundation. A more detailed 88-page report (pdf) is available for free download.

Beacon Hill Institute’s Competitiveness Report

A second report reveals that Massachusetts continues to outperform all other states in technology, and ranks first in venture capital per capita, making it the most attractive state for startups. According to this report:
“A state is competitive if it has in place the policies and conditions that ensure and sustain a high level of per capita income and continued growth.”
The report reveals that Massachusetts ranks first among all 50 states in terms of its economic competitiveness, "its ability to attract and retain business and to provide a high standard of living for its residents over the long run."

A press release about Beacon Hill Institute’s Eighth Annual Competitiveness Report is available for review along with a detailed 68-page report (pdf).

Conclusion

Despite the near-term challenges in our economy, long-term prospects look bright for knowledge workers with technical skills that are valued in the marketplace.

One strategy for surviving an economic downturn is to focus on upgrading technical skills that help organizations deliver superior service to their customers. A list of the Top 20 Web-related skills that offer the greatest potential appears in the right-hand column.



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