Ranking Innovation Locally

In 2018, the United States spent a projected $553 billion on research and development—more than any other country in the world, accounting for more than 25 percent of global R&D spending. This helped the U.S. rank fourth on the Global Innovation Index, with particular strengths in knowledge and technology outputs. But some states deserve more credit for this ranking than others. 

To determine which states actually contribute the most to national innovation, WalletHub compared all 50 states and the District of Columbia across 22 key metrics ranging from share of STEM professionals to R&D spending per capita. Illinois sits comfortably in the middle at No. 24. While the Land of Lincoln is not listed in any of the “worst” categories, placing 36th in “Eighth-Grade Math & Science Performance” is not exactly a point of pride. Check out the full report at wallethub.com. 

On the plus side, in a recent study conducted by 247WallSt.com, Peoria fares better than the state at large, ranking 22nd among the most innovative cities in the United States. This list is based on the number of patents issued per 100,000 residents in 2015, the most recent year data is available, according to the U.S. Patent and Trademark Office. (Note: While the study states that 3,321 patents were granted in Peoria in 2015, that figure actually represents the total number of patents issued between 2000 and 2015. This timeframe was consistent for each city in the list.) The study cites the Peoria NEXT Innovation Center at Bradley University for bringing together researchers, inventors and entrepreneurs in a collaborative environment. iBi