U.S. Granted Utility Patents Originating in Erie, PA (MSA)
This dataset tracks u.s. granted utility patents originating in erie, pa (msa) over time.
Latest Value
91.00
Year-over-Year Change
24.66%
Date Range
1/1/2000 - 1/1/2015
Summary
This economic trend tracks the number of utility patents originating from the Erie, PA metropolitan statistical area (MSA). It provides insight into the region's innovation and technological activity.
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
The U.S. Granted Utility Patents Originating in Erie, PA (MSA) measures the total number of utility patents granted by the U.S. Patent and Trademark Office that have inventors residing in the Erie, PA MSA. This metric is used to assess the area's contribution to technological advancement and its ability to foster a culture of innovation.
Methodology
The data is collected by the U.S. Patent and Trademark Office based on the residential location of patent inventors.
Historical Context
This trend is used by policymakers, economic development agencies, and businesses to evaluate the innovation ecosystem and competitiveness of the Erie, PA region.
Key Facts
- Erie, PA is home to several major universities and research institutions.
- The region has seen growth in high-tech industries like advanced manufacturing and medical devices.
- Utility patents are a key indicator of technological progress and commercialization.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of utility patents granted by the U.S. Patent and Trademark Office that have inventors residing in the Erie, PA metropolitan statistical area.
Q: Why is this trend relevant for users or analysts?
A: The number of utility patents originating from a region is a key indicator of its innovative capacity and technological competitiveness. This metric is closely watched by policymakers, economic development agencies, and businesses.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Patent and Trademark Office based on the residential location of patent inventors.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economic development agencies, and businesses to evaluate the innovation ecosystem and competitiveness of the Erie, PA region. It informs decisions around supporting research, education, and business development.
Q: Are there update delays or limitations?
A: There may be lags in the reporting of patent data, as the process of application, review, and issuance can take several years. Additionally, the data only reflects patents originating in the Erie, PA MSA and does not capture innovation occurring outside the region.
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Citation
U.S. Federal Reserve, U.S. Granted Utility Patents Originating in Erie, PA (MSA) (PATENTCBSA121500), retrieved from FRED.