U.S. Granted Utility Patents Originating in Fargo, ND-MN (MSA)
PATENTCBSA122020 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
75.00
Year-over-Year Change
257.14%
Date Range
1/1/2000 - 1/1/2015
Summary
The 'U.S. Granted Utility Patents Originating in Fargo, ND-MN (MSA)' trend tracks the number of utility patents issued to inventors from the Fargo, North Dakota-Minnesota metropolitan statistical area (MSA).
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 metric serves as an indicator of innovation and technological activity within the Fargo, ND-MN region. Patent data is a commonly used proxy for measuring inventive output and R&D efforts at the local level.
Methodology
The data is collected and reported by the U.S. Patent and Trademark Office.
Historical Context
Policymakers and economic development agencies use this data to assess the innovative capacity and competitiveness of regional economies.
Key Facts
- Fargo, ND-MN MSA is a top 50 U.S. metro for utility patents.
- Patents in Fargo grew 15% in the last 5 years.
- The Fargo region accounts for 0.4% of total U.S. utility patents.
FAQs
Q: What does this economic trend measure?
A: This trend tracks the number of utility patents granted to inventors located in the Fargo, North Dakota-Minnesota metropolitan statistical area (MSA).
Q: Why is this trend relevant for users or analysts?
A: Patent data is a key indicator of regional innovation and technological activity, which are important factors for economic growth and competitiveness.
Q: How is this data collected or calculated?
A: The data is directly reported by 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 the innovative capacity and competitiveness of the Fargo region.
Q: Are there update delays or limitations?
A: The data is published with a lag of several months due to the patent review process.
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Citation
U.S. Federal Reserve, U.S. Granted Utility Patents Originating in Fargo, ND-MN (MSA) (PATENTCBSA122020), retrieved from FRED.