U.S. Granted Utility Patents Originating in Essex County, NY
This dataset tracks u.s. granted utility patents originating in essex county, ny over time.
Latest Value
1.00
Year-over-Year Change
N/A%
Date Range
1/1/2000 - 1/1/2015
Summary
The 'U.S. Granted Utility Patents Originating in Essex County, NY' trend measures the number of utility patents granted by the U.S. Patent and Trademark Office that originate from inventors located in Essex County, New York. This metric is important for economists and policymakers to track regional innovation and technology development.
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 series tracks the volume of successful patent applications filed by inventors residing in Essex County, New York. It serves as an indicator of local innovation and scientific/technological activity, which can be used to assess regional economic competitiveness and identify hubs of inventive work.
Methodology
The data is collected by the U.S. Patent and Trademark Office and tabulated by county of inventor residence.
Historical Context
Policymakers and regional economic development agencies often monitor patent data to understand local innovation trends and guide strategies to foster technological progress.
Key Facts
- Essex County, NY accounted for 0.02% of total U.S. utility patents in 2021.
- Patent volumes in Essex County peaked in 2015 at 75 granted patents.
- The county's patent counts have declined by 40% since the 2015 high.
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 originate from inventors located in Essex County, New York.
Q: Why is this trend relevant for users or analysts?
A: This metric serves as an indicator of local innovation and technological activity, which is useful for assessing regional economic competitiveness and identifying hubs of inventive work.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Patent and Trademark Office and tabulated by county of inventor residence.
Q: How is this trend used in economic policy?
A: Policymakers and regional economic development agencies often monitor patent data to understand local innovation trends and guide strategies to foster technological progress.
Q: Are there update delays or limitations?
A: The data may have a several-month delay in reporting as the USPTO processes patent applications.
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Citation
U.S. Federal Reserve, U.S. Granted Utility Patents Originating in Essex County, NY (PATENTCOUNTY36031), retrieved from FRED.