U.S. Granted Utility Patents Originating in Anderson, SC (MSA)
PATENTCBSA111340 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
45.00
Year-over-Year Change
60.71%
Date Range
1/1/2000 - 1/1/2015
Summary
This economic trend measures the number of utility patents granted for inventions originating in the Anderson, SC metropolitan statistical area (MSA). It provides insight into the region's innovative activity and technological advancement.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
Utility patents are granted for new and useful inventions, processes, or improvements. The U.S. Patent and Trademark Office (USPTO) tracks patent data by geographic origin, which can reveal patterns of innovation across different regions.
Methodology
The data is collected directly from USPTO records on granted utility patents.
Historical Context
Policymakers and economic development agencies use this metric to assess a region's competitiveness and success in fostering a culture of innovation.
Key Facts
- Anderson, SC is home to many engineering and manufacturing firms.
- The region has seen growth in patents in recent decades.
- Utility patents account for the majority of all patents granted in the U.S.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of utility patents granted for inventions originating in the Anderson, SC metropolitan area. Utility patents cover new and useful innovations, processes, or improvements.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the innovative and technological capabilities of the Anderson, SC region, which is valuable for policymakers, economic development agencies, and businesses analyzing regional competitiveness.
Q: How is this data collected or calculated?
A: The data is directly sourced from records of granted utility patents at the U.S. Patent and Trademark Office.
Q: How is this trend used in economic policy?
A: Policymakers and economic development agencies use this metric to assess a region's capacity for innovation and technological advancement, which informs strategies for fostering a thriving business environment.
Q: Are there update delays or limitations?
A: There may be lags in reporting utility patent data due to the administrative processes involved, but the Federal Reserve makes efforts to provide the most up-to-date information available.
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Citation
U.S. Federal Reserve, U.S. Granted Utility Patents Originating in Anderson, SC (MSA) (PATENTCBSA111340), retrieved from FRED.