U.S. Granted Utility Patents Originating in Goodhue County, MN
PATENTCOUNTY27049 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
48.00
Year-over-Year Change
269.23%
Date Range
1/1/2000 - 1/1/2015
Summary
The 'U.S. Granted Utility Patents Originating in Goodhue County, MN' tracks the number of utility patents granted by the U.S. Patent and Trademark Office that have inventors residing in Goodhue County, Minnesota. This metric serves as an indicator of local innovation and technological advancement.
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 granted for new, useful, and non-obvious inventions. The patent data originating from Goodhue County provides insights into the region's capacity for technological innovation and can be used to assess its economic competitiveness and ability to foster a culture of entrepreneurship.
Methodology
The data is collected directly from U.S. Patent and Trademark Office records.
Historical Context
Policymakers and economic development organizations use this metric to benchmark Goodhue County's innovation ecosystem against other regions.
Key Facts
- Goodhue County, MN is home to several major technology companies.
- Patent activity is a key driver of economic growth in the region.
- The county has seen a steady increase in utility patents over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of utility patents granted by the U.S. Patent and Trademark Office that have inventors residing in Goodhue County, Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the level of technological innovation and entrepreneurial activity within Goodhue County, which is important for assessing the region's economic competitiveness and growth potential.
Q: How is this data collected or calculated?
A: The data is collected directly from U.S. Patent and Trademark Office records.
Q: How is this trend used in economic policy?
A: Policymakers and economic development organizations use this metric to benchmark Goodhue County's innovation ecosystem against other regions and inform strategies to foster a thriving, technology-driven economy.
Q: Are there update delays or limitations?
A: There may be a delay of several months between the granting of a patent and its inclusion in the data, as the U.S. Patent and Trademark Office processes applications.
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Citation
U.S. Federal Reserve, U.S. Granted Utility Patents Originating in Goodhue County, MN (PATENTCOUNTY27049), retrieved from FRED.