Although Chattanooga leaders are working to create an innovative business and tech ecosystem, a new report found that Tennessee ranks low overall in innovation friendliness.
Personal finance social networkWalletHub.com ranked Tennessee as the 45th most innovative state.
To find out which states contribute the most to the country’s innovation-which is an important driver of economic growth-WalletHub analysts comparedthe 50 states and the District of Columbia across 18 key indicators of innovation-friendliness.
Analysts looked at indicators such as thenumber of STEM professionals and research and development spending per capita.
The District of Columbia came in at No. 1, with Maryland and Massachusetts in second and third places, respectively.
WalletHub also reported that in 2016, the U.S. spent an estimated$514 billionon research and development-more than any other country in the world-helping the nation rank No. 4 on theGlobal Innovation Index.
Click here to see all the findings, as well as information about how policymakers can facilitate innovation.