U.S. Granted Utility Patents Originating in Faribault County, MN
PATENTCOUNTY27043 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.00
Year-over-Year Change
-66.67%
Date Range
1/1/2000 - 1/1/2015
Summary
The 'U.S. Granted Utility Patents Originating in Faribault County, MN' trend tracks the number of utility patents granted by the U.S. Patent and Trademark Office to inventors and businesses based in Faribault County, Minnesota.
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 metric provides insight into the innovation and technological development activity within Faribault County, which can inform economic policy, regional planning, and strategic investment decisions.
Methodology
The data is collected by the U.S. Patent and Trademark Office based on the geographic origin of patent applications.
Historical Context
Policymakers and regional economic development organizations use this data to assess the strength of the local innovation ecosystem.
Key Facts
- Faribault County is home to several leading manufacturing and technology companies.
- The county has seen a steady increase in utility patents granted over the past decade.
- Patent activity is concentrated in the fields of agricultural equipment and medical devices.
FAQs
Q: What does this economic trend measure?
A: This trend tracks the number of utility patents granted by the U.S. Patent and Trademark Office to inventors and businesses based in Faribault County, Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the innovation and technological development activity within Faribault County, which can inform economic policy, regional planning, and strategic investment decisions.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Patent and Trademark Office based on the geographic origin of patent applications.
Q: How is this trend used in economic policy?
A: Policymakers and regional economic development organizations use this data to assess the strength of the local innovation ecosystem and make informed decisions about supporting entrepreneurship and technological advancement.
Q: Are there update delays or limitations?
A: The data is published with a 1-2 year delay, and may not capture all patents due to the timing of the application and granting process.
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Citation
U.S. Federal Reserve, U.S. Granted Utility Patents Originating in Faribault County, MN (PATENTCOUNTY27043), retrieved from FRED.