(WASHINGTON) Nov. 18, 2008 – Five states—Massachusetts, Washington, Maryland, Delaware and New Jersey—are leading the United States’ transformation into a global, entrepreneurial and knowledge- and innovation-based New Economy, according to The 2008 State New Economy Index, released today by the Ewing Marion Kauffman Foundation and the Information Technology and Innovation Foundation (ITIF). The report is being released during Global Entrepreneurship Week, an initiative to inspire young people around the world to embrace imagination, innovation and creativity.

...All the states at the top of the ranking—even those that are not growing rapidly in employment—also show above-average levels of entrepreneurship. Most are at the forefront of the information technology and Internet revolutions, with a large share of their institutions and residents embracing the digital economy. Most have a solid innovation infrastructure that fosters and supports technological innovation, and many have high levels of domestic and foreign immigration of highly mobile, highly skilled knowledge workers coupled with a good quality of life.

...In addition to 2008, Massachusetts topped the 1999, 2002 and 2007 State Index lists. Washington, which ranked fourth in 2007 and second in 2002, has moved back to second place, scoring high due to its strength in software and aviation. Maryland, with its high concentration of knowledge workers, maintains the third-place rank it held in 2007.