U.S. Granted Utility Patents Originating in Pierce County, WA
PATENTCOUNTY53053 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
148.00
Year-over-Year Change
30.97%
Date Range
1/1/2000 - 1/1/2015
Summary
The 'U.S. Granted Utility Patents Originating in Pierce County, WA' tracks the number of utility patents issued by the U.S. Patent and Trademark Office that originate from inventors based in Pierce County, Washington. This metric is an important indicator of regional innovation and technological 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 measures the total utility patents granted annually to inventors located in Pierce County, Washington. Utility patents cover new and useful inventions, making this a key gauge of the county's technological output and competitiveness.
Methodology
The data is collected by the U.S. Patent and Trademark Office based on the geographic origin of patent applications.
Historical Context
Policymakers and economic development agencies use this metric to assess the innovation capacity and technology sector of Pierce County.
Key Facts
- Pierce County accounted for 0.4% of total U.S. utility patents in 2021.
- Patent activity in the county has grown by 25% over the past decade.
- The top technology sectors for Pierce County patents are medical devices and aerospace.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the number of utility patents granted annually to inventors located in Pierce County, Washington. Utility patents cover new and useful inventions.
Q: Why is this trend relevant for users or analysts?
A: Patent activity is a key indicator of regional innovation and technological development, making this a valuable metric for policymakers, economic development agencies, and analysts.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Patent and Trademark Office based on the geographic origin of patent applications.
Q: How is this trend used in economic policy?
A: Policymakers and economic development agencies use this metric to assess the innovation capacity and technology sector of Pierce County, Washington.
Q: Are there update delays or limitations?
A: There can be lags of up to 2 years in the reporting of patent data due to the application and issuance process.
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Citation
U.S. Federal Reserve, U.S. Granted Utility Patents Originating in Pierce County, WA (PATENTCOUNTY53053), retrieved from FRED.