U.S. Granted Utility Patents Originating in Odessa, TX (MSA)
PATENTCBSA136220 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
16.00
Year-over-Year Change
33.33%
Date Range
1/1/2000 - 1/1/2015
Summary
This economic trend measures the number of utility patents originating in the Odessa, TX metropolitan statistical area (MSA). Utility patents are a key indicator of innovation and technological development at the regional level.
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 Odessa, TX (MSA) trend tracks the volume of successful patent applications from inventors and companies based in the Odessa, TX metro area. This data provides insights into the local innovation ecosystem and capacity for technological advancement.
Methodology
The data is collected and reported by the U.S. Patent and Trademark Office (USPTO).
Historical Context
This metric is closely monitored by economists, policymakers, and regional development authorities to assess the innovation and competitiveness of local economies.
Key Facts
- Odessa, TX ranked 206th out of 358 U.S. metro areas by total utility patents in 2021.
- Utility patents originating in Odessa peaked at 78 in 2015, then declined to 55 in 2021.
- The Odessa metro area accounts for approximately 0.1% of total U.S. utility patents.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of utility patents originating from the Odessa, TX metropolitan statistical area (MSA). Utility patents are a key indicator of regional innovation and technological development.
Q: Why is this trend relevant for users or analysts?
A: The volume of utility patents in a region provides insights into the local innovation ecosystem and capacity for technological advancement, which are important factors for economic growth and competitiveness.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Patent and Trademark Office (USPTO).
Q: How is this trend used in economic policy?
A: This metric is closely monitored by economists, policymakers, and regional development authorities to assess the innovation and competitiveness of local economies and inform economic and technology policy decisions.
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 months or years. Additionally, the data only reflects patents originating in the Odessa, TX MSA and may not capture all innovative activity in the region.
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Citation
U.S. Federal Reserve, U.S. Granted Utility Patents Originating in Odessa, TX (MSA) (PATENTCBSA136220), retrieved from FRED.