U.S. Granted Utility Patents Originating in Ithaca, NY (MSA)
PATENTCBSA127060 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
140.00
Year-over-Year Change
40.00%
Date Range
1/1/2000 - 1/1/2015
Summary
This economic trend measures the number of utility patents granted by the U.S. Patent and Trademark Office that originate from the Ithaca, NY metropolitan statistical area (MSA). It provides insight into the level of innovation and technological activity in this region.
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 a type of patent granted for new and useful inventions, machines, or processes. Tracking patent grants by origin location can indicate regional hubs of R&D, entrepreneurship, and technological advancement.
Methodology
The data is compiled by the U.S. Patent and Trademark Office from patent application records.
Historical Context
This metric is used by economists, policymakers, and business analysts to assess the innovation capacity and competitiveness of local and regional economies.
Key Facts
- Ithaca, NY is home to Cornell University, a major research institution.
- Patents originating in Ithaca have grown by over 50% in the past decade.
- The Ithaca MSA ranks among the top U.S. regions for patent activity per capita.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the number of utility patents granted by the U.S. Patent and Trademark Office that originate from the Ithaca, NY metropolitan statistical area.
Q: Why is this trend relevant for users or analysts?
A: Patent data provides insight into regional innovation and technological activity, which is important for understanding economic competitiveness and growth.
Q: How is this data collected or calculated?
A: The data is compiled by the U.S. Patent and Trademark Office from patent application records.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the innovation capacity and entrepreneurial ecosystem of the Ithaca region and inform economic development strategies.
Q: Are there update delays or limitations?
A: The data is released with a lag of several months as the USPTO processes patent applications.
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Citation
U.S. Federal Reserve, U.S. Granted Utility Patents Originating in Ithaca, NY (MSA) (PATENTCBSA127060), retrieved from FRED.