Through a competitive grant awarded by the U.S. Economic Development Administration (EDA), the Indiana Business Research Center (IBRC) of the Kelley School of Business has developed an Index of Innovation that is usable at the county level and for multi-county regions.  While previous research in this area examined innovation at state level or within larger metropolitan statistical areas, the IBRC recognized that local and regional economic development practitioners need more granular data applicable to any region, of any size, in the country.

The Innovation Index for America’s Regions, whose development was led by Tim Slaper of the IBRC, provides an overall innovation index for any county or multi-county region, along with sub-indexes addressing the key dimensions of human capital, economic dynamism, productivity and employment, and economic well-being.  In turn, each of these sub-indexes is comprised of several indicators.  The Innovation Index was created through joint research with the Purdue Center for Regional Development.

Data for all levels are available on the IBRC’s Innovation in American Regions web site.  The web site includes a variety of useful data tools, including a just-released interactive innovation map that enables the index values for any county to be highlighted. This seminal work has received national awards for excellence and has been highlighted by the EDA in its newsletters and by other national economic development groups.  A value-added resource, the Innovation Index represents another way IU is advancing economic development in Indiana and beyond.

The full press release detailing the Innovation Index and its reported results for 2011 can be accessed here.