U.S. Granted Utility Patents Originating in Indian River County, FL
PATENTCOUNTY12061 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
38.00
Year-over-Year Change
153.33%
Date Range
1/1/2000 - 1/1/2015
Summary
This economic trend measures the number of utility patents granted to inventors originating in Indian River County, Florida. Tracking patent activity is important for understanding 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 within a specific geographic area. The U.S. Patent and Trademark Office (USPTO) tracks patent grants by the county of origin, providing insights into regional economic and R&D activity.
Methodology
The data is collected directly from USPTO administrative records on granted utility patents.
Historical Context
Policymakers and economic analysts use this metric to assess the innovation capacity and technological competitiveness of local markets.
Key Facts
- Indian River County is a coastal region in Florida known for its citrus production.
- In 2021, the county saw 104 utility patents granted to local inventors.
- The number of patents has grown by an average of 6% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of utility patents granted to inventors originating in Indian River County, Florida. Utility patents represent new, non-obvious, and useful technological innovations.
Q: Why is this trend relevant for users or analysts?
A: Tracking patent activity is an important indicator of regional innovation and technological progress. This data can inform economic development strategies, investment decisions, and assessments of local competitiveness.
Q: How is this data collected or calculated?
A: The data is collected directly from administrative records of the U.S. Patent and Trademark Office (USPTO) on granted utility patents.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the innovation capacity and technological competitiveness of Indian River County. It can inform decisions around funding for R&D, technology-focused economic development initiatives, and attracting high-tech industries to the region.
Q: Are there update delays or limitations?
A: There is typically a 1-2 year delay in the availability of this data as the USPTO processes and records patent grants. The data also only reflects utility patents, excluding other types of intellectual property protection.
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Citation
U.S. Federal Reserve, U.S. Granted Utility Patents Originating in Indian River County, FL (PATENTCOUNTY12061), retrieved from FRED.