The National Science Foundation released its Science and Engineering Indicators report for 2018 and the United States tops the global list of countries. The data provides insight into how the U.S. stacks up compared to the rest of the world when it comes to science and technology.
The report also looked at how individual states compare to the U.S. average for indicators like technology jobs. Nationally, about 1 in 16 workers are employed as scientists and engineers or have a technical occupation. In Colorado, 8.5 percent of all jobs are part of these STEM careers.
“Colorado is in pretty good shape — it has a highly technical work force. In fact, it ranks 6th among all states,” said France Cordova, the director of the National Science Foundation, the federal agency that oversees the report. “The highly technical work force may contribute to why it’s also been able to attract a relatively high level of venture capital.”
Venture capital, another indicator included in the report, fuels new kinds of businesses and expands economic growth. In 2016, Colorado ranked ninth in total venture capital investment at $838 million, which was down from the two previous years. Venture capital investment supports businesses that take on the risk of developing and commercializing cutting-edge, emerging technologies. The U.S. had a total investment of $70.3 billion in 2016.
The report is mandated by Congress and produced every two years. Cordova said these indicators are important because they focus on the health of science and engineering enterprise in this country, which comprises about 40 percent of the gross domestic product. Lawmakers and other organizations use the data to inform future policy and growth.
While the United States is the global leader in science and technology, other countries – especially China – are catching up.
“Like an Olympic race, it’s great to be out ahead,” said Cordova. “But you gotta look back and see if somebody is about to catch you.”
