Community Infrastructure / Innovation Assets

The NWCCOG Region is rich with the potential for innovation and entrepreneurship.  One way to measure this is by examining the innovation assets available in the region through the Stats America Innovation Index. This data tool measures a number of variables within five sub-indexes:
  • Human Capital and Knowledge Creation
  • Business Dynamics
  • Business Profile
  • Employment and Productivity
  • Economic Well-Being
The index allows for the creation of an innovation index - i.e. a measure of how innoative a region is - for multiple counties.  Let's examine how innovative NWCCOGs region is:

Innovation Index: Counties in NWCCOG's Region

County Innovation Index Rank in U.S.
(out of 3,110 counties)
Eagle 97.6 524
Grand 81.5 1,841
Jackson 79.6 1,993
Pitkin 86.6 1,316
Summit 88.2 1,167

Now, let's look at how each of NWCCOG's counties meausre up in each component of the innovation index. 

Human Capital and Knowledge Creation

This category suggests the extent to which a region’s population and labor force are able to engage in innovative activities.
  Eagle Grand Jackson Pitkin Summit
Human Capital & Knowledge Creation OVERALL index 85.9 101.9 69.8 90.4 94.1
"Salad Days" Pop. Growth (ages 25-44) 143.4 97.4 77.1 109.9 123.5
Educational Attainment Core Index 124.3 136.1 109.6 127.6 153.0
High School Attainment (ages 18-24) 89.3 83.0 142.0 68.2 164.4
Some College, No Degree (Age 25+) 57.7 98.8 159.2 80.5 105.3
Associates Degree (Age 25+) 96.5 162.4 69.2 92.3 97.6
Bachelor's Degree (Age 25+) 199.9 199.2 91.4 200.0 199.9
Graduate Degree (Age 25+) 178.1 137.1 86.2 196.9 197.8
Knowledge Creation & Technology Diffusion Core Index 40.6 105.9 0.0 63.1 36.7
Patent Technology Diffusion 122.0 157.0 0.0 189.3
University-based Knowledge Spillovers 0.0 78.1 0.0 0.0 0.0
Business Incubator Spillovers 0.0 82.7 0.0 0.0 0.0
STEM Education and Occupations Core Index 47.9 42.2 71.0 49.3 43.3
STEM degree creation (per 1,000 population) 0.0 0.0 0.0 0.0 0.0
Technology-based Knowledge Occupation Clusters  54.4 50.7 80.6 56.4 52.2
High-Tech Industry Employment Share 89.3 76.1 132.4 91.4 77.7


Business Dynamics Index

This category gauges the competitiveness of a region by investigating the entry and exit of individual firms—the creative destruction measures.

  Eagle Grand Jackson Pitkin Summit
Business Dynamics OVERALL index 77.4 53.7 35.4 49.4 74.1
Establishment Formation Core Index 132.4 115.5 76.5 111.9 123.2
Establishment Births to All Est. Ratio 166.5 146.6 52.6 122.8 160.8
Traded Sector Estab. Births to All Estab. 126.2 83.4 186.3 102.8 105.4
Jobs Attributed to Estab. Births to 146.6Total Employment Ratio83.4 138.6 153.9 0.0 106.2 110.3
Change in Estab. Births to All Estabs. Ratio 98.5 78.1 67.2 115.6 116.3
Establishment Dynamics Core Index 92.2 96.7 63.2 81.6 93.8
Estab. Expansions Divided by Estab. Contractions 97.8 115.3 50.6 91.1 94.9
Estab. Births Divided by Estab. Deaths 97.4 96.9 64.6 79.6 96.1
Traded Sector Estab. Dyanamics 81.5 77.9 74.5 73.9 90.4
Venture Capital Dollar Measures Core Index 43.2 0.0 0.0 0.0 44.2
Venture Capital (Annual Avg. $) 86.7 0.0 0.0 0.0 87.8
Expansion State Venture Capital $ 86.1 0.0 0.0 0.0 0.0
High-Tech Venture Capital $ 0.0 0.0 0.0 0.0 89.0
Change in Venture Capital $ 0.0 0.0 0.0 0.0 0.0
Venture Capital Count Measures Core Index 34.7 0.0 0.0 0.0 28.9
Initial Public Offerings 0.0 0.0 0.0 0.0 0.0
Venture Capital Deals (Avg. Annual) 104.3 0.0 0.0 0.0 86.7
Change in Venture Capital Deals 0.0 0.0 0.0 0.0 0.0

 


Business Profile Index

This category measures local business conditions and resources available to entrepreneurs and businesses.

  Eagle Grand Jackson Pitkin Summit
Business Profile OVERALL Index 109.3 76.3 82.0 90.5 78,8
Foreign Direct Invst. (FDI) Attractiveness Core Index 96.5 0.0 0.0 45.0 0.0
FDI Employment Index, Foreign Source 91.1 0.0 0.0 0.0 0.0
FDI $ Index, Foreign Source 96.5 0.0 0.0 0.0 0.0
FDI Employment Index, National Source 104.4 0.0 0.0 87.3 0.0
FDI $ Index, National Source 94.0 0.0 0.0 92.6 0.0
Connectivity Core Index 114.3 134.0 64.3 101.0 107.6
Residential High Speed Connectivity Density 199.4 189.3 73.4 199.9 199.9
Change in Residential High Speed Connections 0.0 81.2 0.0 0.0 0.0
Farm Operators with Internet Access 143.5 131.5 118.5 103.0 122.8
Dynamic Industry Profile Core Index 159.5 133.4 114.3 162.2 180.9
Small Establishments (Average) 199.7 199.9 178.6 198.2 199.8
Large Establishments (Average) 99.2 79.4 0.0 94.3 161.8
High-Tech, Early-in-life-Cycle Estab. Ratio 179.6 120.8 164.3 194.2 181.0
Proprietorship Core Index 103.2 94.7 151.1 101.8 89.7
Proprietorship Rate 135.6 137.6 199.7 109.5 113.3
Change in Propietorship Rate 94.4 63.8 190.2 99.4 71.9
Proprietor Income to Total Wages and Salaries 98.5 93.9 59.1 114.7 90.2
Availability of Capital from All Banks 83.7 83.5 155.4 83.7 83.6



Employment and Productivity Index

This category describes economic growth, regional desirability or direct outcomes of innovative activity.

  Eagle Grand Jackson Pitkin Summit
Employment & Productivity OVERALL index 105.9 78.7 94.8 99.0 84.4
Job Growth to Population Growth Ratio 135.6 91.9 182.2 117.7 111.2
Change in Share of High Tech Industry Employment 75.5 97.4 74.8 69.3 80.8
Industry Performance Core Index 77.1 95.8 138.5 73.2 68.0
Cluster Diversity 53.1 53.5 198.2 55.2 53.0
Cluster Strength 87.7 86.7 136.9 85.5 87.1
Cluster Growth Factor 95.4 147.1 80.5 78.8 63.8
Gross Domestic Product (GDP) Core Index 79.8 72.4 90.4 90.1 74.6
GDP per Worker 96.2 76.9 66.4 118.5 78.8
Change in GDP per Worker 63.4 68.0 114.5 61.8 70.4
Patents Core Index 175.1 43.5 0.0 152.2 107.1
Change in Avg. Patenting Rate 176.0 87.1 0.0 172.5 93.7
Patent Diversity 174.2 0.0 0.0 131.9 120.5

Economic Well-Being Index

This category explores standard of living and other economic outcomes.
  Eagle Grand Jackson Pitkin Summit
Economic Well-Being OVERALL index 113.6 114.9 137.7 108.2 135.2
Per Capita Personal Income Growth 95.3 57.2 88.2 96.1 123.8
Income Inequality (Mean to Median Ratio) 63.4 174.1 180.4 50.0 110.2
Poverty Rate (Average) 167.7 165.2 152.2 170.2 140.2
Unemployment Rate (Average) 141.2 143.8 170.3 130.9 165.1
Dependency Based on Income Sources (Ratio) 197.4 180.7 147.4 198.4 196.2
Net Migration (Average) 91.1 53.7 166.3 77.0 146.8
Compensation Core Index 76.2 72.0 98.4 71.4 99.6
Growth in wage/salary earnings per worker (Avg. Annual) 72.4 80.0 143.9 70.3 70.4
Change in Proprietor's Income per Proprietor (Avg. Annual) 80.1 64.1 53.0 72.6 128.7

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