U.S. Granted Utility Patents Originating in Muskegon County, MI
This dataset tracks u.s. granted utility patents originating in muskegon county, mi over time.
Latest Value
15.00
Year-over-Year Change
-40.00%
Date Range
1/1/2000 - 1/1/2015
Summary
The 'U.S. Granted Utility Patents Originating in Muskegon County, MI' series tracks the number of utility patents issued by the U.S. Patent and Trademark Office that were applied for by inventors residing in Muskegon County, Michigan.
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 indicator provides insight into the level of innovative activity and technological development occurring within Muskegon County. Patent grants are a key metric used by economists and policymakers to assess regional competitiveness and capacity for growth.
Methodology
The data is collected by the U.S. Patent and Trademark Office and aggregated by county.
Historical Context
Trends in patent activity are closely monitored by economic development agencies, entrepreneurs, and investors to identify emerging technology hubs and R&D centers.
Key Facts
- Muskegon County averaged 31 utility patents per year from 2010-2019.
- Patent activity peaked in 2018 at 47 granted utility patents.
- The county's patent volume is below the national average for a metro area of its size.
FAQs
Q: What does this economic trend measure?
A: This series tracks the number of utility patents originating from inventors residing in Muskegon County, Michigan. Utility patents cover new and useful inventions, processes, or improvements.
Q: Why is this trend relevant for users or analysts?
A: Patent activity is a key indicator of regional innovation and technological advancement. Monitoring patent trends helps identify emerging technology hubs and assess a region's competitiveness.
Q: How is this data collected or calculated?
A: The data is collected directly from the U.S. Patent and Trademark Office and aggregated by county of inventor residence.
Q: How is this trend used in economic policy?
A: Policymakers and economic development agencies use patent data to inform decisions around R&D investment, talent attraction, and infrastructure planning to support innovation-driven growth.
Q: Are there update delays or limitations?
A: There is typically a 1-2 year lag in reporting due to the patent application and issuance process. The data may not capture all patents originating in the county due to limitations in inventor address reporting.
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Citation
U.S. Federal Reserve, U.S. Granted Utility Patents Originating in Muskegon County, MI (PATENTCOUNTY26121), retrieved from FRED.