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Economy: Goals & Measures
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Indicator Measures
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How are we doing?
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3.1.1 Share of young knowledge workers Metro Boston versus other regions
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According to a 2003 Census Bureau analysis, Greater Boston experienced only a slight net gain in young, single, college-educated workers between 1995 and 2000, despite the then-booming economy, while all of its major competitor regions saw greater gains. |
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3.1.2 Innovation capacity measured by patents per capita
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In 2003, patents were granted to Massachusetts innovators at a rate of about 61 per 100,000 residents – an increase of 8.3% over 2002 and the highest rate among the Leading Technology States. However, patents are a highly mobile form of intellectual capital, and do not guarantee local start-ups and jobs. |
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3.2.1 Level of Research and Development funding
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In 2003, Massachusetts attracted the highest per capita share of federal R&D funds among all states, $425 per 1,000 residents. The $4.6 billion in federal research grants was second only to California’s more than $15 billion. |
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3.2.2 Share of the nation’s venture capital investment
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With only 2.3% of the nation’s population, Massachusetts received 10% of all venture capital invested nationwide between the first quarter of 1995 and the third quarter of 2004. However, other Leading Technology States – and foreign economies – are working hard to attract a greater percentage. |
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3.2.3 Funding for higher education
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In fiscal year 2005, Massachusetts ranked 47th among all states in per capita appropriations for public higher education, at $137, falling further behind competitor Leading Technology States. The Commonwealth decreased per capita tax appropriations by 28% between the 2000 and 2005 fiscal years compared to an increase of 13% in New York, 7% in New Jersey, and 4% in California. |
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