U.S. Granted Utility Patents Originating in Cincinnati-Middletown, OH-KY-IN (MSA)
PATENTCBSA117140 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,048.00
Year-over-Year Change
9.62%
Date Range
1/1/2000 - 1/1/2015
Summary
The 'U.S. Granted Utility Patents Originating in Cincinnati-Middletown, OH-KY-IN (MSA)' tracks the number of utility patents issued by the U.S. Patent and Trademark Office to inventors located in the Cincinnati metropolitan area.
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
This series measures innovative activity in the Cincinnati metropolitan region by counting the total number of utility patents granted to local inventors. Utility patents protect new and useful inventions, and serve as an important indicator of technological progress and economic competitiveness.
Methodology
The data is collected by the U.S. Patent and Trademark Office and reported by the Federal Reserve Bank of St. Louis.
Historical Context
Patent data is closely watched by policymakers and analysts to assess a region's innovation capacity and long-term economic prospects.
Key Facts
- Cincinnati-Middletown MSA is home to over 2 million people.
- Patents have been a key driver of the region's economic growth.
- The Cincinnati metro area ranks among the top U.S. regions for patent generation.
FAQs
Q: What does this economic trend measure?
A: This trend tracks the number of utility patents granted by the U.S. Patent and Trademark Office to inventors located in the Cincinnati-Middletown metropolitan statistical area.
Q: Why is this trend relevant for users or analysts?
A: Patent data is a key indicator of innovative activity and technological progress within a regional economy, making this metric highly relevant for economic analysts, policymakers, and businesses.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Patent and Trademark Office.
Q: How is this trend used in economic policy?
A: Policymakers and economic development agencies closely monitor patent trends to assess a region's innovation capacity and competitiveness, informing decisions around investment, workforce, and infrastructure.
Q: Are there update delays or limitations?
A: There may be a several month delay in reporting the latest patent data due to the time required for applications to be processed and granted by the USPTO.
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Citation
U.S. Federal Reserve, U.S. Granted Utility Patents Originating in Cincinnati-Middletown, OH-KY-IN (MSA) (PATENTCBSA117140), retrieved from FRED.