The 2010 State New Economy Index named Arizona as the 20th most innovative state in the nation. The report, which was compiled by the Information Technology & Innovation Foundation, highlights the states that are doing their best to be competitive in the global, entrepreneurial, innovation, and knowledge-based New Economy.

The New Economy is basically the economy that America has been left with after the recent economic recession. As many jobs and industries were lost during the last few years, the recession itself made it necessary for states to develop new jobs, business models, and industries.

Massachusetts is ranked as the most innovative state, followed by Washington, Maryland, New Jersey, and Connecticut. The least innovative states - all of which maintain the same rank as last year - include Mississippi, West Virginia, Arkansas, Alabama, and Wyoming.

The states are ranked as follows:

1. Massachusetts
2. Washington
3. Maryland
4. New Jersey
5. Connecticut
6. Delaware
7. California
8. Virginia
9. Colorado
10. New York
11. New Hampshire
12. Utah
13. Minnesota
14. Oregon
15. Illinois
16. Rhode Island
17. Michigan
18. Texas
19. Georgia
20. Arizona
21. Florida
22. Pennsylvania
23. Vermont
24. North Carolina
25. Ohio
26. Kansas
27. Idaho
28. Maine
29. Wisconsin
30. Nevada
31. Alaska
32. New Mexico
33. Missouri
34. Nebraska
35. Indiana
36. North Dakota
37. Montana
38. Iowa
39. South Carolina
40. Hawaii
41. Tennessee
42. Oklahoma
43. Louisiana
44. Kentucky
45. South Dakota
46. Wyoming
47. Alabama
48. Arkansas
49. West Virginia
50. Mississippi

The ITIF compiled the 2010 State New Economy Index by using 26 different indicators to measure various capacities within each state. These include the extent to which each state is knowledge-based, globalized, entrepreneurial, IT-driven, and innovation-based.

According to a recent article from The Arizona Republic, applications have been submitted for more than 80 solar power and wind power plans throughout the state, which together are valued at tens of billions of dollars. If approved, those projects would create thousands of jobs and bring in an unprecedented amount of revenue and other economic benefits.

Of the 80 proposed solar and wind projects in Arizona, all the solar plants together would produce 13,622 megawatts of power, while all of the wind plants together would produce 9,194 megawatts of power.

That power will be much needed, as the Arizona Public Service Company expects the peak demand to reach 7,059 megawatts this summer, while the APS and Salt River Project systems expect to see a peak demand for 13,449 megawatts of power. At the same time, the megawatt capacity of Palo Verde Nuclear Generating Station is only 4,000.

However, many of the companies looking to bring their alternative energy solutions to Arizona are waiting on the state to implement new high-voltage transmission lines, which are necessary for companies to get their energy to customers. Developers and utilities throughout the state are still debating on where those lines will be located and who will pay to put them in.

The Salt River Project reports that alternative energy developers are looking to use about 70 parcels of Arizona land owned by the U.S. Bureau of Land Management and Arizona State Land Department, while the remainder of the projects will take place on private or tribal lands.

While companies are keeping tight-lipped about the details of specific projects until they are finalized, records show some well-known names are jumping on board, including France-based Areva, Spain-based Iberdrola Renewables, Tempe-based First Solar Inc., and Florida Power & Light Company.