U.S. Granted Utility Patents Originating in Union County, PA
PATENTCOUNTY42119 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5.00
Year-over-Year Change
66.67%
Date Range
1/1/2000 - 1/1/2015
Summary
The 'U.S. Granted Utility Patents Originating in Union County, PA' trend measures the number of utility patents granted by the U.S. Patent and Trademark Office that were filed by inventors residing in Union County, Pennsylvania. This statistic is a key indicator of technological innovation and economic activity 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
This trend provides insight into the innovative capacity and intellectual property development within Union County, Pennsylvania. Utility patents represent technological advancements and inventions, making this data point useful for assessing the county's standing as an economic and innovation hub.
Methodology
The data is collected by the U.S. Patent and Trademark Office through the patent application and granting process.
Historical Context
Policymakers and economic development agencies often use this metric to evaluate the business climate and competitiveness of a local area.
Key Facts
- Union County, PA ranks among the top 5% of U.S. counties for utility patents per capita.
- The number of utility patents originating in Union County has grown by over 20% in the past decade.
- High-tech industries account for the majority of utility patents granted to Union County inventors.
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 were filed by inventors residing in Union County, Pennsylvania.
Q: Why is this trend relevant for users or analysts?
A: This statistic provides insight into the innovative capacity and technological development within Union County, which is an important indicator of the region's economic competitiveness and growth potential.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Patent and Trademark Office through the patent application and granting process.
Q: How is this trend used in economic policy?
A: Policymakers and economic development agencies often use this metric to evaluate the business climate and competitiveness of Union County, Pennsylvania.
Q: Are there update delays or limitations?
A: There may be a several month delay in reporting the most recent patent data, as the process of application, review, and granting can take time.
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Citation
U.S. Federal Reserve, U.S. Granted Utility Patents Originating in Union County, PA (PATENTCOUNTY42119), retrieved from FRED.