Rhode Island was cited as a top performer in the 2008 State New Economy Index, a report published by the Ewing Marion Kauffman Foundation and the Information Technology and Innovation Foundation (ITIF). Released today, the 2008 Index ranked Rhode Island 11th in the nation in a state-by-state analysis of how state economies are transitioning to economic development strategies that focus on the creation and retention of high-wage jobs in growth industries. Rhode Island has moved up four places from its 2007 Index position, and has moved up from 29th when the Index was first issued in 1999.

The 2008 Index ranks the 50 states according to how their economies are structured and their ability to operate effectively in order to compete nationally and globally. It divides 29 indicators into five categories that best capture the New Economy: knowledge jobs, globalization, economic dynamism, transformation to a digital economy and technological innovation capacity.