U.S. Granted Utility Patents Originating in Olmsted County, MN
PATENTCOUNTY27109 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
520.00
Year-over-Year Change
109.68%
Date Range
1/1/2000 - 1/1/2015
Summary
The 'U.S. Granted Utility Patents Originating in Olmsted County, MN' measures the number of utility patents granted by the U.S. Patent and Trademark Office that originate from inventors located in Olmsted County, Minnesota. This data is an indicator of innovative activity and technological progress in the region.
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 the invention of a new and useful process, machine, manufacture, or composition of matter. The number of utility patents originating from a specific geographic area provides insight into the level of technological innovation and research and development occurring in that region.
Methodology
The data is collected by the U.S. Patent and Trademark Office and aggregated by county.
Historical Context
Policy makers and economic development organizations use this data to track the innovative capacity and competitiveness of local economies.
Key Facts
- Olmsted County is home to the Mayo Clinic, a leading medical research institution.
- In 2021, Olmsted County accounted for 0.4% of all U.S. utility patents granted.
- Patent activity in Olmsted County has grown by an average of 2.5% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: The 'U.S. Granted Utility Patents Originating in Olmsted County, MN' measures the number of utility patents granted by the U.S. Patent and Trademark Office that originate from inventors located in Olmsted County, Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This data provides insight into the level of technological innovation and research and development occurring in the Olmsted County region, which is relevant for economic development, competitiveness, and policymaking.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Patent and Trademark Office and aggregated by county.
Q: How is this trend used in economic policy?
A: Policy makers and economic development organizations use this data to track the innovative capacity and competitiveness of the local economy in Olmsted County.
Q: Are there update delays or limitations?
A: The data is published with a lag, and may not capture the most recent patent activity in Olmsted County.
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Citation
U.S. Federal Reserve, U.S. Granted Utility Patents Originating in Olmsted County, MN (PATENTCOUNTY27109), retrieved from FRED.