By James McNair
The Cincinnati Enquirer

Ohio might not be the Third Frontier yet, but the state has inched its way up one of the most comprehensive comparisons of states by their technology accomplishments and aptitude.

The Milken Institute's State Technology and Science Index for 2004, being released this morning, ranks Ohio as 24th among the 50 states. Nothing to brag about, but the ranking is a three-spot improvement over the state's performance in 2002, when the last survey was done.

What's more, Ohio passed Michigan on the list. The Wolverine State fell from 24th to 25th.

The study by the Santa Monica, Calif.-based think tank compares states on 75 measurements in five categories: research and development; risk capital and infrastructure; human capital investment; technology and science work force; and technology concentration. Ohio's highest score was 20th, in risk capital and infrastructure.

Indiana rose to 29th on the list, up from 30th. Kentucky fell two spots to 48th - leaving it ahead of Arkansas and Mississippi but trailing West Virginia and South Dakota.

Ross DeVol, the Milken Institute's director of regional studies, said Ohio made significant gains in access to venture capital, a critical area for promoting technology entrepreneurship. Ohio went from 34th place in venture capital in 2002 to 11th in 2004.

Taft launched the Third Frontier in 2002. The program earmarks $1.1 billion in state money over 10 years to stimulate entrepreneurship. Voters defeated a referendum in November that would have added $500 million in bond sale proceeds to the program.

The top 10 finishers in this year's index were Massachusetts, California, Colorado, Maryland, Virginia, Washington, New Jersey, Minnesota, Utah and Connecticut.

E-mail jmcnair@enquirer.com