The economic changes going on today are part and parcel of a broader and fundamental transition to a new economy that brings new opportunities and new challenges. As such it would be a mistake for economic development officials to dismiss the New Economy as some passing fad dreamed up by over-imaginative journalists. Rather, the New Economy is real and continues to transform state and regional economies. This article discusses what these New Economy changes are and presents results from the 2007 State New Economy Index, a study which enables state and local economic developers to better assess where their states lie in the transformation to the New Economy.
