Colorado ranks second among U.S. states in turning technology and science capabilities into high-paying jobs, according to a new ranking by the Milken Institute.

That’s two places better in the rankings than the fourth-place Colorado area achieved the last time the report was compiled two years ago.

The Santa Monica, California-based Milken Institute’s “ State Technology and Science Index 2016” used 2014 data to assess the science and technology capabilities of each state as well as factors that lead to job and wealth creation.

The 107 variables in the index include federal research funding and innovation grants, technical work force size, technology employment growth, state’s gross product, number of businesses and population demographics.

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