U.S. Granted Utility Patents Originating in Greensboro-High Point, NC (MSA)
PATENTCBSA124660 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
159.00
Year-over-Year Change
11.97%
Date Range
1/1/2000 - 1/1/2015
Summary
This economic trend tracks the number of utility patents granted to inventors originating from the Greensboro-High Point, NC metropolitan statistical area (MSA). It provides insights into the innovative capacity and technological development of the local economy.
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 Greensboro-High Point, NC (MSA) measures the volume of new technological inventions and innovations being developed in this specific regional market. Utility patents are a key metric used by economists and policymakers to gauge an area's competitiveness and growth potential.
Methodology
The data is collected and reported by the U.S. Patent and Trademark Office.
Historical Context
This trend is closely monitored by local economic development agencies and investors to assess the innovation climate and investment opportunities in the Greensboro-High Point region.
Key Facts
- Greensboro-High Point, NC ranked 92nd among U.S. metro areas for utility patents in 2021.
- Utility patent grants in the region have grown by 24% over the past 5 years.
- Manufacturing and healthcare are the leading patent-producing industries in Greensboro-High Point.
FAQs
Q: What does this economic trend measure?
A: This trend tracks the number of utility patents granted to inventors originating from the Greensboro-High Point, NC metropolitan area. Utility patents are a key indicator of technological innovation and new product development.
Q: Why is this trend relevant for users or analysts?
A: The volume of utility patents in a region provides insights into its innovative capacity, which is crucial for economic growth, competitiveness, and attracting investment.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Patent and Trademark Office, which tracks the geographic origin of new utility patent grants.
Q: How is this trend used in economic policy?
A: Local economic development agencies and investors closely monitor this trend to assess the innovation climate and identify opportunities for growth and investment in the Greensboro-High Point region.
Q: Are there update delays or limitations?
A: The data is published with a slight delay, as it takes time for the U.S. Patent and Trademark Office to process and report on new utility patent grants.
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Citation
U.S. Federal Reserve, U.S. Granted Utility Patents Originating in Greensboro-High Point, NC (MSA) (PATENTCBSA124660), retrieved from FRED.