SpaceX and Virgin Galactic’s entry into Space travel have brought in a slew of Billionaires into the sector. The lesser reliance on hardware and more on software development skills for operating and innovating in space technology is ideal for Seattle – a technology hub.
Harvard University by a big margin contributes the most for the state economy. In 2016, the student community, all of 34,202, that include undergraduates, professional, graduates and extension school participants, had a direct or indirect impact on the economy.The Puritans, settled in Boston, in the 1630s believed in the power of learning, not of worldly concepts but theological morals.
First promoted, in 1943, as Press Week, by Eleanor Lambert, the New York Fashion Week was an attempt to position New York as an alternative fashion capital to the dominant Haute Couture in Paris where high-end fashion was a symbol of exclusivity. Only Queens in the 17th Century France had access to custom design and fit, made with hours of detailing and delicate patterns.
In 2015, the production of natural gas in the US reached self-sufficiency levels (99% consumption). Innovation in hydraulic fracturing on shale formation, began in the 1980s and 90s when Mitchell Energy was experimenting a new method of fracturing in the Barnett Shale, near Bend Arch–Fort Worth Basin.
California Life science industry is out shadowing the nearest competitors - Massachusetts and New York by a big margin. The 3040 life science companies brought in revenues of $147.7 billion (2015), directly employing over 287,000, while building an eco-system of nearly 800,000 consultants, marketers, and software developers.
The technology industry in the state contributed 7.5% of the total state’s gross product, with a payroll of $13.3 billion in 2015. If the number of patents in the State is a measure of innovation in the industry, Minnesota saw a three times growth in Patents from 1992 to 2014.The technology industry in the state contributed 7.5% of the total state’s gross product, with a payroll of $13.3 billion in 2015.
Although not as famous as the Stanford Industrial Park, the Research Triangle Park (RTP), created in 1959, is one of the largest research parks, powered by the intellect of three leading universities in the region - Duke University, NC State University, and the University of North Carolina at Chapel Hill.
The ICT industry has
The proximity to New York (2 hour drive), lower income tax($100k for $1 million income in New York vs. $67k in CT), lower estate tax ($3.5 million for $25 million in New York vs. $2.5 million in CT), close-knit community and real estate that offers lavish 10-acre homes instead of cramped luxury apartments for the same price, pushed former fund managers to set their shop in Connecticut.
When the US and Indiana economy was going through the 2008 financial crisis, the Life Science industry in the state continued to grow, registering a 22% job growth since 2001, accounting for 1 in every 10 jobs. From 2010 to 2014, the number of scientist and engineers has grown by 53% and 34% respectively, setting the foundation for innovation.
5,00,000 people or 15% of the workforce in the state is employed in the automobile industry while producing 23% of all US vehicles. Also known as the Great Lakes State, Michigan rose to the title of the ‘Automobile capital of the world,’ through the dominance of Detroit in the early 20th century and during the period of great growth till 1970.5,00,000 people or 15% of the workforce in the state is employed in the automobile industry while producing 23% of all US vehicles.
The Manufacturing 4.0 would require managers who understand the interdependencies in a manufacturing unit from the production components, the environment where the components interact, and the IT system that enable the interactions.In a span of just 15 years (2001 to 2016), Chicago lost 30% of the manufacturing jobs. Technology transformed the traditional workflow of production.