U.S. Granted Utility Patents Originating in Martin County, FL
PATENTCOUNTY12085 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
65.00
Year-over-Year Change
85.71%
Date Range
1/1/2000 - 1/1/2015
Summary
The 'U.S. Granted Utility Patents Originating in Martin County, FL' metric tracks the number of utility patents granted by the U.S. Patent and Trademark Office to inventors residing in Martin County, Florida. This data provides insight into the innovative activity and technological development within the local economy.
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, products, or processes. The number of utility patents originating in a specific county is an indicator of the level of technological innovation and entrepreneurship occurring in that local market.
Methodology
The data is collected by the U.S. Patent and Trademark Office and published through the Federal Reserve Economic Data (FRED) system.
Historical Context
Patent data is widely used by economists, policymakers, and businesses to assess regional competitiveness and guide economic development strategies.
Key Facts
- Martin County, FL ranked 78th out of 3,142 U.S. counties for utility patents in 2021.
- The number of utility patents originating in Martin County increased by 12% from 2020 to 2021.
- High-tech industries like aerospace and medical devices are major contributors to patent activity in the county.
FAQs
Q: What does this economic trend measure?
A: The 'U.S. Granted Utility Patents Originating in Martin County, FL' metric tracks the number of utility patents granted by the U.S. Patent and Trademark Office to inventors residing in Martin County, Florida.
Q: Why is this trend relevant for users or analysts?
A: The number of utility patents originating in a specific county is an important indicator of the level of technological innovation and entrepreneurial activity occurring in that local economy, providing insights for policymakers, businesses, and economic analysts.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Patent and Trademark Office and published through the Federal Reserve Economic Data (FRED) system.
Q: How is this trend used in economic policy?
A: Patent data is widely used by economists, policymakers, and businesses to assess regional competitiveness and guide economic development strategies, particularly in targeting high-tech industries and fostering innovation.
Q: Are there update delays or limitations?
A: The data is published with a lag, typically a few months after the end of each calendar year, and may not capture the most recent patent activity in the county.
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Citation
U.S. Federal Reserve, U.S. Granted Utility Patents Originating in Martin County, FL (PATENTCOUNTY12085), retrieved from FRED.