A research center in Colorado, partially funded by the Templeton Foundation, is going to look for some ways to possibly measure imagination. The thought is that such a quality is not generally revealed by standard intelligence testing but can be a sign of intelligence. Obviously, imagination is tough to quantify, so the scientists may have their work cut out for them. Plus, there are times when our imagination is stronger than others -- such as explaining to one's parents why there is a dent in the fender.
It's worth noting that the center has not been placed in Washington, D.C., nor in Hollywood. So it would seem that they're already on the right track, as the latter lacks much imagination these days and the former rarely uses that power for good anymore.