Report: California leads the nation in innovation spending

A new report from Business.org shows there’s plenty of money pouring into creative ideas. Drawing upon National Science Foundation data on research and development spending in 2016 — the most recent year for which numbers are available — the study found that California far outpaces others U.S. states. The Golden State accounted for 31 percent of the nation’s overall R&D spending.

" I guess the secret is out" Illustration by Chuck Pelly

Anyone remotely tuned into California’s business climate knows the place is teeming with innovation.

And a new report from Business.org shows there’s plenty of money pouring into those creative ideas. Drawing upon National Science Foundation data on research and development spending in 2016 — the most recent year for which numbers are available — the study found that California far outpaces others U.S. states. In fact, the Golden State accounted for 31 percent of the nation’s overall R&D spending.

California businesses spent more than $1.1 million per capita on innovation in 2016, the report said. Massachusetts ranked second with $215,600, which means California spent five times more per capita than any other state.

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By Kenin Smith - kvsmith@scng.com - San Gabriel Valley Tribune

Published: January 24, 2019