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- All Subjects: High technology
- All Subjects: Income
- Creators: Morrison Institute for Public Policy
Author Tom Rex discusses how the long downward trend in high-technology industries in Arizona continued over the last decade.
Examines the size and growth of Arizona’s economy and the productivity and prosperity of its residents. Learn about Arizona’s gross product, occupational mix, per capita personal income, and more.
Innovation—introducing something new—in the 21st century mostly derives from technological advances. Innovation drives the modern economy, leading to gains in productivity and prosperity. In this edition of Indicator Insight, author Tom Rex discusses innovation in Arizona in terms of human capital, financial capital, and high-technology employment.
Per capita earnings in Arizona has been lower than the national average for decades. The 2011 differential of 19 percent is the largest on record; the typical differential has been between 10 and 15 percent. Thus, for residents who have spent some or all of their working life in the state, the state’s historically low per capita earnings help to explain the state’s below-average per capita property income.
Economic development leaders and public officials throughout the country are tending to the effects of a sour economy and huge state budget deficits when they would rather be creating quality jobs and new economy assets. According to the most prominent thinking on today’s knowledge economy, locally developed and exported technology will be the primary economic differentiator between future winners and losers. Thus, with long-term fiscal and economic health at stake, the 50-state race is on for advantages and leadership in science and technology. This report sheds light on these issues through an overview of Arizona’s standing in science and technology today, short case studies of four competitors in the west, as well as Arizona, and ideas for Arizona’s leaders to consider as they strive to give our state an edge.