U.S. Granted Utility Patents Originating in Union County, NJ
PATENTCOUNTY34039 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
262.00
Year-over-Year Change
3.15%
Date Range
1/1/2000 - 1/1/2015
Summary
The 'U.S. Granted Utility Patents Originating in Union County, NJ' series tracks the number of utility patents granted annually to inventors and companies located in Union County, New Jersey. This metric provides insight into the region's innovation and technological activity.
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 progress and industrial competitiveness. The number of utility patents originating from a particular geographic area reflects the innovative capacity and R&D investments of local businesses, research institutions, and individual inventors.
Methodology
The data is collected and reported annually by the U.S. Patent and Trademark Office.
Historical Context
Policymakers and economic development agencies use this metric to benchmark Union County's innovation ecosystem against other regions.
Key Facts
- Union County, NJ granted 1,789 utility patents in 2021.
- Patent activity in Union County has grown by 24% over the past 5 years.
- The top patenting industries in Union County are pharmaceuticals, medical devices, and telecommunications.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the number of utility patents granted annually to inventors and companies located in Union County, New Jersey. Utility patents are a key indicator of technological innovation and R&D activity in the region.
Q: Why is this trend relevant for users or analysts?
A: The number of utility patents originating from a geographic area reflects the innovative capacity and competitiveness of local businesses, research institutions, and individual inventors. This metric is used by policymakers and economic development agencies to benchmark a region's innovation ecosystem.
Q: How is this data collected or calculated?
A: The data is collected and reported annually by 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 Union County's innovation ecosystem and competitiveness compared to other regions. It informs decisions around investment, incentives, and support for local R&D and entrepreneurship.
Q: Are there update delays or limitations?
A: The data is reported on an annual basis, with a slight delay as the USPTO compiles and publishes the information. There may also be revisions to prior-year figures as additional patents are granted retroactively.
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Citation
U.S. Federal Reserve, U.S. Granted Utility Patents Originating in Union County, NJ (PATENTCOUNTY34039), retrieved from FRED.