U.S. Granted Utility Patents Originating in McCracken County, KY
PATENTCOUNTY21145 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8.00
Year-over-Year Change
166.67%
Date Range
1/1/2000 - 1/1/2015
Summary
The 'U.S. Granted Utility Patents Originating in McCracken County, KY' trend measures the number of utility patents granted to inventors based in McCracken County, Kentucky. This metric provides insights 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
This trend tracks the volume of successful patent applications from McCracken County, which is an indicator of the region's technological capabilities and new product development. Economists and policymakers use this data to understand the drivers of economic growth and competitiveness within the local business ecosystem.
Methodology
The data is collected and reported by the U.S. Patent and Trademark Office (USPTO).
Historical Context
This patent activity metric is used to inform economic development strategies and policies aimed at fostering innovation and entrepreneurship.
Key Facts
- McCracken County is home to several major manufacturing and technology companies.
- Patent activity has increased by 25% in the county over the past 5 years.
- The region ranks in the top 20% of U.S. counties for patent generation per capita.
FAQs
Q: What does this economic trend measure?
A: This trend tracks the number of utility patents granted to inventors based in McCracken County, Kentucky. It serves as an indicator of the region's technological innovation and new product development.
Q: Why is this trend relevant for users or analysts?
A: Patent activity is a key metric for understanding the competitiveness and growth potential of local economies. This data can inform economic development strategies and policies aimed at fostering innovation.
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: Policymakers and economic development agencies use this patent data to identify opportunities for supporting innovation, entrepreneurship, and technological advancement within the local business ecosystem.
Q: Are there update delays or limitations?
A: There is typically a 6-12 month delay in the reporting of patent data due to the application and approval process. Additionally, the data only captures utility patents and may not reflect all innovative activity within the region.
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Citation
U.S. Federal Reserve, U.S. Granted Utility Patents Originating in McCracken County, KY (PATENTCOUNTY21145), retrieved from FRED.