New Jersey Holds 10th Place in National Innovation Rankings for Fourth Straight Year

New Jersey ranked No. 10 on WalletHub’s 2026 Most Innovative States report. This marks the fourth year in a row the state has claimed that spot.

The personal finance resource published the list on March 18 to pinpoint which states are driving U.S. leadership in the technology-driven economy.

The state placed No. 5 for share of technology companies. Other top rankings included No. 10 for projected STEM-job demand by 2030, R&D spending per capita, and venture-capital funding per capita.

WalletHub compared all 50 states and the District of Columbia across 25 indicators. Researchers examined factors such as each state’s share of STEM professionals, R&D spending per capita, and the concentration of tech companies.

The rankings also measured human capital metrics like share of science and engineering graduates, eighth-grade math and science performance, and entrepreneurial activity. New Jersey placed No. 13 in share of STEM professionals. It hit No. 15 in eighth-grade math and science performance. The state reached No. 16 in share of science and engineering graduates aged 25 and over.

“The most innovative states are especially attractive to people who have majored in science, technology, engineering, and math, or STEM, as they offer abundant career opportunities and investment dollars, both for jobs at existing companies and for startups,” said Chip Lupo, WalletHub Analyst, per ROI-NJ.com

Former Gov. Phil Murphy signed legislation creating the New Jersey Innovation Authority in January before leaving office. That move made the state the first in the nation to codify a state innovation office into law.

Gov. Mikie Sherrill included $13.3 million for the authority in her proposed $60.7 billion budget. The New Jersey Economic Development Authority board approved a $12.55 million commitment to two Strategic Innovation Centers focused on medical technology and maternal health a year ago.

The state’s innovation status benefits from initiatives including the NJx Venture Summit, the NJ AI Hub in West Windsor, and the New Jersey Economic Development Authority’s Innovation Evergreen Fund. Princeton University lands in the No. 1 spot on best colleges lists from U.S. News & World Report and WalletHub year after year.

The District of Columbia, Massachusetts, and California took the top three spots. Mississippi, Louisiana, and West Virginia ranked at the bottom.

The United States ranks third out of 139 countries in the latest Global Innovation Index, behind Switzerland and Sweden. The country invests more than $800 billion in R&D each year.

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