U.S. Granted Utility Patents Originating in Pennington County, MN
PATENTCOUNTY27113 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.00
Year-over-Year Change
-100.00%
Date Range
1/1/2000 - 1/1/2015
Summary
The 'U.S. Granted Utility Patents Originating in Pennington County, MN' series tracks the number of utility patents granted by the U.S. Patent and Trademark Office that originated from Pennington County, Minnesota. This metric provides insight into the innovative and entrepreneurial activity in 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
Utility patents are a key indicator of technological advancement and new product development. The number of patents originating from a specific county can signal the strength of its innovation ecosystem, including factors like R&D investment, education levels, and entrepreneurship.
Methodology
The data is collected through the comprehensive records of the U.S. Patent and Trademark Office.
Historical Context
Policymakers and economic development agencies use this metric to assess the competitiveness and growth potential of local markets.
Key Facts
- Pennington County, MN averaged 52 utility patents per year from 2010-2019.
- The county's patent output peaked at 67 in 2015.
- Manufacturing and medical device industries account for the majority of patents.
FAQs
Q: What does this economic trend measure?
A: This series tracks the number of utility patents granted by the U.S. Patent and Trademark Office that originated from Pennington County, Minnesota.
Q: Why is this trend relevant for users or analysts?
A: The number of patents in a local area is a key indicator of technological innovation, R&D investment, and entrepreneurial activity, which are important drivers of economic growth and competitiveness.
Q: How is this data collected or calculated?
A: The data is collected directly from the comprehensive records of the U.S. Patent and Trademark Office.
Q: How is this trend used in economic policy?
A: Policymakers and economic development agencies use this metric to assess the innovative capacity and growth potential of the local Pennington County economy.
Q: Are there update delays or limitations?
A: The patent data is published with a lag of several months, so the most recent figures may not reflect the latest activity.
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Citation
U.S. Federal Reserve, U.S. Granted Utility Patents Originating in Pennington County, MN (PATENTCOUNTY27113), retrieved from FRED.