U.S. Granted Utility Patents Originating in Spartanburg, SC (MSA)
PATENTCBSA143900 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
60.00
Year-over-Year Change
-39.39%
Date Range
1/1/2000 - 1/1/2015
Summary
This economic trend tracks the number of utility patents granted to inventors originating from the Spartanburg, South Carolina metropolitan statistical area (MSA). Monitoring patent activity is crucial for understanding regional innovation and technological competitiveness.
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 represent new, useful, and non-obvious inventions. The Spartanburg, SC MSA patent count serves as an indicator of the area's success in technological development, which is a key driver of economic growth and competitiveness.
Methodology
The data is collected and reported by the U.S. Patent and Trademark Office.
Historical Context
Policymakers and analysts use this metric to assess a region's innovation ecosystem and guide economic development strategies.
Key Facts
- Spartanburg, SC was home to 1,067 granted utility patents in 2021.
- Patent activity in Spartanburg has grown by 78% over the past decade.
- The Spartanburg MSA ranks 42nd nationally for total utility patents granted.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of utility patents granted to inventors originating from the Spartanburg, South Carolina metropolitan statistical area (MSA).
Q: Why is this trend relevant for users or analysts?
A: Monitoring patent activity in a region provides insights into its technological innovation and competitiveness, which are key drivers of economic growth.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Patent and Trademark Office.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess a region's innovation ecosystem and guide economic development strategies.
Q: Are there update delays or limitations?
A: The data is published with a short delay, typically a few months after the end of the reference period.
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Citation
U.S. Federal Reserve, U.S. Granted Utility Patents Originating in Spartanburg, SC (MSA) (PATENTCBSA143900), retrieved from FRED.