Colorado and the new economy: How do we fit in?

Colorado is well positioned to thrive in the "New Economy," but not as well as it was five and ten years ago, according to a new report that nearly made our heads explode.

The report -- The 2008 State New Economy Index, produced by some folks who most likely where protectors for their pocket protectors -- ranks Colorado ninth among states based on their ability to compete in the New Economy, which the researchers seem to think has something to do with technology and innovation, although we're pretty sure the New Economy will be anchored by canned goods and candlelight in our basement.

Colorado has slipped in recent years, from third in both 2002 and 1997.

The report also ranks states on other factors, including:

  • Economic dynamism: ("Job churning," IPOs, fast-growing companies (Colorado ranks third)
  • Patents per worker (4th)
  • Innovation capacity (3rd)
  • Managerial, professional, and technical jobs (13th)
  • Education of workforce (3rd)
  • Immigration of educated workers (36th)
  • Migration of U.S.-based educated workers (10th
  • Foreign direct investment (29th)
  • IPOs (4th)
  • Fastest-growing firms (11rd)

If you're looking for states to curse, it appears New York, Virginia, and Maryland are Colorado's stiffest competition. Each has jumped from out of the top-10 and past Colorado since 1999. -- Joe Tone

(Hat tip to 5280 and the Northern Colorado Business Report for the link).

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