Lone Star pride
The innovation state: Texas blows away the rest of the South in nationalentrepreneur rankings
How's this for that trademark Texas can-do spirit?
The Lone Star State ranked No. 8 in the nation for entrepreneurship in 2011, according to a U.S. State Entrepreneurship Index released this week by the University of Nebraska-Lincoln.
For the rankings, the university's Bureau of Business Research and Department of Economics looked at entrepreneurial activity in all 50 states, taking into account each state's "percentage growth and per capita growth of business establishments, its business formation rate, the number of patents per thousand residents and income per non-farm proprietor in each state."
Other Southern states ranked poorly in comparison: Louisiana took dead last (dropping from No. 5 on last year's list).
Texas, says the study, "had a strong establishment growth rate and a high value for income per non-farm proprietor." It rose three spots from No. 11 in the 2010 rankings.
Other Southern states ranked poorly in comparison: Louisiana took dead last (dropping from No. 5 on last year's list), Oklahoma fell in at No. 30, Alabama at No. 44 and Mississippi at No. 47.
Massachusetts earned the top spot for 2011, followed by North Dakota, California, New York and Minnesota. Oregon took No. 6 and New Jersey ranked seventh. Illinois and New Hampshire rounded out the top 10.
Want to read about concrete entrepreneurial success stories from right here in Houston? Check out our Profiles of Innovation series.