U.S. Granted Utility Patents Originating in Henry County, VA
PATENTCOUNTY51089 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.00
Year-over-Year Change
0.00%
Date Range
1/1/2000 - 1/1/2015
Summary
The 'U.S. Granted Utility Patents Originating in Henry County, VA' trend measures the number of utility patents granted by the U.S. Patent and Trademark Office that originated from inventors residing in Henry County, Virginia. This metric provides insight into the innovative capacity and technological development within the county.
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 type of patent granted for new and useful inventions, processes, or improvements. Tracking the number of utility patents originating from a specific county can indicate the level of technological activity and entrepreneurship in that local economy.
Methodology
The data is collected by the U.S. Patent and Trademark Office and reported at the county level.
Historical Context
Policymakers and economic development officials often use patent data to assess a region's innovation and R&D strengths.
Key Facts
- Henry County ranks 2,109th out of 3,142 U.S. counties for utility patents.
- Patent grants have increased by 15% in Henry County over the past 5 years.
- The top patenting industries in Henry County are machinery and computer/electronic products.
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 originated from inventors residing in Henry County, Virginia.
Q: Why is this trend relevant for users or analysts?
A: Tracking utility patents at the county level provides insights into the innovative capacity and technological development of the local economy, which is useful for policymakers, economic development officials, and analysts.
Q: How is this data collected or calculated?
A: The data is collected directly from the U.S. Patent and Trademark Office and reported at the county level.
Q: How is this trend used in economic policy?
A: Patent data is often used by policymakers and economic development agencies to assess a region's innovation strengths and support policies that foster technological advancement and entrepreneurship.
Q: Are there update delays or limitations?
A: There may be lags of several months between when patents are granted and when the data is reported at the county level.
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Citation
U.S. Federal Reserve, U.S. Granted Utility Patents Originating in Henry County, VA (PATENTCOUNTY51089), retrieved from FRED.