PROVIDENCE – Rhode Island’s entrepreneurial ecosystem placed No. 19 in the U.S. for its impact on the overall state economy, according to a report released Tuesday.
The Shopify Entrepreneurship Index, a new report by the Canadian e-commerce company, ranks national and international entrepreneurial sectors based on GDP impact, business impact, number of jobs created, and exports generated, according to Shopify.
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The company gathers this data from “millions of Shopify-powered entrepreneurs,” the report states.
According to the report, the Ocean State’s entrepreneurship ecosystem supports 3,100 jobs and $15.9 million in exports in Rhode Island, generating $767 million in business activity and a $366 million GDP impact.
While Rhode Island rose just above mid-range nationally, the Ocean State ranked above Massachusetts, which was ranked No. 41, and Connecticut, which ranked No. 47 out of 50.
Delaware, Wyoming, California, Montana and Utah topped the list, with no New England states included in the top 10. Regionally, Vermont ranked the highest, at No. 12.
The index also provided global rankings, with the United States, Lithuania, Romania, United Kingdom and Czech Republic taking the top five spots.
In a statement, Shopify President Harley Finkelstein called entrepreneurs “the fuel that drives economies forward.
“They create jobs. They anchor communities. They make an impact that goes far beyond their own business,” Finkelstein continued. “Previously, there wasn’t enough public data showcasing the superpowers and impact of entrepreneurship … Our goal is to give decision makers the insights they need to reduce barriers and make entrepreneurship even more accessible to everyone.”
Shopify intends to continue releasing Entrepreneurship Index reports on a quarterly basis.
Jacquelyn Voghel is a PBN staff writer. You may reach her at Voghel@PBN.com.
