January 2018 — Economists disagree on most issues, but there is widespread agreement that innovation is a driver of economic growth and development. The question that we address in this study is the relationship between research and development, innovation, human capital or educational levels, and economic performance.

Key Findings:

• Innovation, which is linked to human capital, is vital to economic growth and development.

• Wisconsin ranks 20th in the nation for innovation, measured by spending on research and development (R&D), but is lagging behind neighboring states.

• While the majority of spending on R&D in Wisconsin comes from businesses, the University of Wisconsin – Madison accounts for about 27% of all R&D expenditures in Wisconsin. The level of R&D spending by the UW-Madison, however, has been declining over the past several years.

• Compared to the nation, Wisconsin is less active in the most innovative industries. This could limit the potential for sustained economic growth and development.

Explore the Wisconsin Economy

Business Owners of Color in Wisconsin: Representation, Profitability, and Growth

Willingness to Pay for Broadband Internet

Broadband and the Wisconsin Economy

The State of Wisconsin Manufacturing

Shifting Wisconsin Labor Resources: A Review of Educational Attainment

Sources of Job Growth

Women Business Owners: Patterns of Women Owned and Managed Businesses in Wisconsin

Relocation Patterns of Wisconsin Businesses: The Migration or Relocation Patterns of Wisconsin Businesses