What does the word mean?
"Our Brazillian office has invested in a lot of state of the art equipment".
What does the word "state" mean in this context?

Question

What does the word mean?
"Our Brazillian office has invested in a lot of state of the art equipment". 
What does the word "state" mean in this context?

Answer

'State of the art' is a fixed phrase, meaning the latest and most advanced. In this context, it means the most modern equipment.
The 'state' itself refers to the current level of development of the 'art' of building equipment.

Answer

Latest technology. Newest product.