Innovative Technology Authority is recognized nationally amongst its peers as a model technology-based economic development organization. This is exemplified by the number of programs initiated by ITA's non-profit operating company, the Center for Innovative Technology (CIT), and copied by other states. Nationally, Virginia is ranked 8th in the "2007 State New Economy Index" conducted by the Information Technology & Innovation Foundation and the Kauffman Foundation. Virginia's ranking of eight compares to Virginia's gross state product and population peer-state, Massachusetts who ranks number one. ITA, through its operating company CIT, intends to resolve this ranking disparity and make Virginia the top destination for new technology company formation.

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