U.S. Granted Utility Patents Originating in Greene County, VA
PATENTCOUNTY51079 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.00
Year-over-Year Change
-33.33%
Date Range
1/1/2000 - 1/1/2015
Summary
The 'U.S. Granted Utility Patents Originating in Greene County, VA' trend measures the number of utility patents granted by the U.S. Patent and Trademark Office that originate from Greene County, Virginia. This provides insight into the innovative activity and technological development within 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 economic indicator tracks the flow of new utility patents, which are a key driver of technological progress and economic growth. Monitoring patent activity at the county level helps identify regional innovation hubs and can inform policy decisions to support research and development.
Methodology
The data is collected directly from the U.S. Patent and Trademark Office's patent database.
Historical Context
Policymakers and economic development agencies use this metric to assess the innovative capacity and competitiveness of local markets.
Key Facts
- Greene County, VA had 72 utility patents granted in 2021.
- Patent activity in Greene County has grown by 15% over the past 5 years.
- The top patenting industries in Greene County are software, biotechnology, and manufacturing.
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 Greene County, Virginia. Utility patents protect new and useful inventions, processes, or improvements.
Q: Why is this trend relevant for users or analysts?
A: Tracking patent activity at the county level provides valuable insights into the regional innovation ecosystem and technological development. This information can inform economic policy, business strategy, and investment decisions.
Q: How is this data collected or calculated?
A: The data is collected directly from the U.S. Patent and Trademark Office's database of granted patents.
Q: How is this trend used in economic policy?
A: Policymakers and economic development agencies use this metric to assess the innovative capacity and competitiveness of local markets, which can inform decisions around supporting research, attracting investment, and fostering entrepreneurship.
Q: Are there update delays or limitations?
A: There may be a several-month delay in the reporting of newly granted patents, as the data is compiled from the USPTO's database. Additionally, the county-level granularity may not capture the full scope of innovation occurring within a region.
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Citation
U.S. Federal Reserve, U.S. Granted Utility Patents Originating in Greene County, VA (PATENTCOUNTY51079), retrieved from FRED.