The percent of Maine residents with a four-year degree increased from 19.2% in 1998 to 26.9% in 2006, pushing Maine up in the national rankings from 46th to 24th, according to a new report from the Maine State Planning Office.
The report is an update of a study completed in 2001 on Maine’s plan to grow its knowledge-based economy. The idea was if Maine could increase the percentage of Maine adults with four-year college degrees to 30%, and raise the amount spent on R&D to $1,000 per employed worker, Maine’s per capita income would rise to the national average or higher. While those goals haven’t been met, Maine has made progress.
The amount of R&D spending per worker in the state has increased from $254 in 1998 to $587 in 2004, the most recent data available. Between 1998 and 2007, Maine’s per capita income increased from $23,596 to $33,722, still well below the U.S. average of $38,611.
Maine State Economist Catherine Reilly says the state’s goal of increasing Maine’s per capita income to the national average is a moving target. “The takeaway is we’re making progress, but in this economy we can’t rest on our laurels,” Reilly told Mainebiz this morning. “Other states are making big investments, too.”