State rankings suggest higher taxes equal greater innovation

Is your state considered tax friendly? If so, congratulations may be in order, but they also may not be.

Bloomberg Businessweek recently analyzed and compared various state rankings, the criteria used to create them and the institutions that compiled the rankings lists. The results of the analyses were published Monday.

The comparison indicates states that top the lists of “fiscally conservative” states also rank lowest on lists that rank innovation in the fields of science, research and development and investment in human capital. Conversely, states with higher tax rates are leaders in innovation, and states with “innovative capacity” are more likely to achieve economic success in an increasingly technology-driven marketplace, according to researchers.

Read more from Bloomberg Businessweek.