Economies and businesses change and evolve over time. Those that fail to innovate often struggle to achieve sustainability and growth.
In 1955, the largest 500 U.S. companies by revenue were listed in the inaugural Fortune 500. Today, less than 12 percent of the companies included in the original list remains. The remaining 88 percent of those original companies have gone out of business, been acquired or merged, or have fallen off the list.
Just like any business that fails to innovate, states face the same challenge: innovate or get left behind.
“Innovation is crucial in creating economic prosperity and long-term growth not just in Utah, but in places across…America,” said Lieutenant Governor Spencer J. Cox at the 2018 SSTI Annual Conference, the country’s largest technology-based economic conference.
