The Score is a data-driven assessment of a nation's economic vitality using 11 key parameters, each reflecting a critical facet of economic performance.
theboardiQ's Economic Relevance Score provides a comprehensive, data-driven assessment of a nation's economic vitality and global significance. This score is meticulously calculated using 11 key parameters, each reflecting a critical facet of economic performance. The analysis also showcases a SWOT for each State as well as radar maps for easy interpretation of data. Links for the data sources are embedded in the tables and updated as of 03.13.2025.
“theboardiQ Economic Relevance Score analyzes the representation of Fortune 500 companies within a nation, a strong indicator of its business environment and market size,”, says Smitashree Menon, Founder and CEO. “The balance of trade surplus or deficit reveals the nation's international competitiveness and export strength. It incorporates Gross Domestic Product (GDP), a fundamental measure of overall economic output, and examine the health of key sectors like agriculture and manufacturing.”
“The score also accounts for innovation, gauging a nation's ability to drive future growth through technological advancements. Crucial labor market indicators such as employment rates are considered, alongside fiscal policies reflected in tax rates. To capture the lived experience of citizens, it assesses cost of living and disposable income, providing insight into purchasing power and economic well-being. Finally, education levels are integrated, recognizing their pivotal role in fostering a skilled workforce and driving long-term economic development.”
The Top 5 States in the assessment are Texas, North Carolina, Virginia, Florida and Washington.
Texas does consistently well across most of the 11 variables especially in the areas of GDP, F500 representation in the State, Balance of Trade where it ranks 2nd nationally.
North Carolina scores as the highest-ranking state nationally in manufacturing and performs consistently across the other variables.
Virginia does well in disposable income where it ranks 3rd nationally. It also scores high in the variables of manufacturing and employment
Florida holds the 4th ranking nationally for GDP and Tax
Washington State scores the top spot for disposable income nationally, 2nd for education and 3rd for innovation.
Colorado, with an overall rank of 7 scores the top spot for Education (schools and higher education).
Nebraska, that ranked 10th overall, did well in Agriculture where it is ranked 3rd nationally as well as Trade Balance where it ranked 5th.
Illinois, though ranked 20th overall did well nationally in F500 representation, GDP, Agriculture, and Disposable Income.
Pennsylvania comes in at 21 overall doing well nationally in GDP (6th); Manufacturing (8th) and F500 representation (8th)
New York scores 23rd overall with a 2 ranking in Disposable Income nationally, as well as 3rd in both F500 representation and GDP.
California comes in at 29th overall and has the top spot ranking in a whopping 4 variables nationally – GDP, Innovation, Agriculture and F500 representation. However, performance in the areas of Trade Balance, Cost of Living, Tax, Manufacturing and Employment resulted in the overall ranking dipping.
Wyoming at 30th overall scores the top spot nationally in the area of Tax
Massachusetts at 31 overall does well in innovation where it is ranked 2nd nationally
Arkansas at 36 and Alabama at 39, do well in overall Cost of Living where they are ranked 2nd and 3rd nationally, respectively.
Louisiana ranked 44th overall is ranked 1st in Trade Balance nationally.
By synthesizing these 11 parameters, theboardiQ's Economic Relevance Score delivers a nuanced and holistic view of a nation's economic standing, to enable healthy competitiveness amongst the States, driving better performance based on data.
It also aims to drive government efficiency to build self reliance and economic resiliency in light of the current geo-political tensions across the globe.
Access the full report at https://www.theboardiq.com/economicrelevance
Smitashree Menon
theboardiQ LLC
smitashree@theboardiQ.com
Visit us on social media:
Facebook
Twitter
LinkedIn