The Golden State is living up to its nickname, with California ranking as the most innovative economy in America. That’s according to Bloomberg’s newest U.S. State Innovation Index based on six equally-weighted metrics.

Silicon Valley is known as the center of tech and innovation, but people in the industry are noticing that its dominance is starting to slip.

The U.S. moved back into the world’s top 10 in Bloomberg’s most-innovative economy ranking this year -- 12 slots ahead of its closest regional competitor -- Canada. Only six nations in the Western Hemisphere are ranked among the 60 countries.