U.S. Granted Utility Patents Originating in Worcester, MA (MSA)
This dataset tracks u.s. granted utility patents originating in worcester, ma (msa) over time.
Latest Value
637.00
Year-over-Year Change
69.41%
Date Range
1/1/2000 - 1/1/2015
Summary
This economic trend measures the number of utility patents granted to inventors originating in the Worcester, MA metropolitan statistical area (MSA). It provides insight into regional innovation and technological development.
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 key indicator of innovation and technological progress in a local economy. The U.S. granted utility patent data for the Worcester, MA MSA tracks the volume of patented inventions emerging from this region over time.
Methodology
The data is collected and published by the U.S. Patent and Trademark Office.
Historical Context
Policymakers and economists use this trend to assess the relative innovation capacity and competitiveness of the Worcester regional economy.
Key Facts
- Worcester, MA ranks 46th among U.S. metro areas for utility patents.
- Utility patents in Worcester peaked at 1,142 in 2015.
- The Worcester MSA accounts for 0.6% of total U.S. utility patents.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of utility patents granted to inventors originating in the Worcester, MA metropolitan area. Utility patents indicate new, useful, and non-obvious inventions.
Q: Why is this trend relevant for users or analysts?
A: The volume of utility patents reflects the innovation capacity and technological development of a regional economy. This data provides insights into Worcester's competitiveness and growth prospects.
Q: How is this data collected or calculated?
A: The data is collected and published by the U.S. Patent and Trademark Office, which tracks the geographic origin of issued utility patents.
Q: How is this trend used in economic policy?
A: Policymakers and economists analyze this data to assess Worcester's innovation ecosystem and inform strategies to promote technology-driven economic development in the region.
Q: Are there update delays or limitations?
A: The patent data is published with a 1-2 year delay, so the most recent figures may not reflect the current state of innovation in Worcester.
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Citation
U.S. Federal Reserve, U.S. Granted Utility Patents Originating in Worcester, MA (MSA) (PATENTCBSA149340), retrieved from FRED.