U.S. Granted Patents: Total Patents Originating in Kentucky
PATENTUSKYTOTAL • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
869.00
Year-over-Year Change
85.29%
Date Range
1/1/1992 - 1/1/2020
Summary
The 'U.S. Granted Patents: Total Patents Originating in Kentucky' trend measures the total number of patents granted to inventors and innovators based in the state of Kentucky. This metric is closely watched by economists and policymakers as an indicator of technological advancement and entrepreneurial activity within the state.
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 data series tracks the total number of utility patents, design patents, and plant patents granted annually by the U.S. Patent and Trademark Office (USPTO) to Kentucky-based inventors. It provides insight into the state's innovation ecosystem and technological competitiveness relative to other regions.
Methodology
The data is collected and reported by the USPTO based on the listed state of residence for each patent grantee.
Historical Context
Policymakers and economic development agencies often monitor patent trends to evaluate the success of programs aimed at stimulating innovation and entrepreneurship within their jurisdictions.
Key Facts
- Kentucky ranked 24th among US states for total patents granted in 2021.
- The number of Kentucky patents has grown by an average of 3.2% per year over the past decade.
- High-tech industries like automotive, aerospace, and pharmaceuticals account for a significant share of Kentucky's patenting activity.
FAQs
Q: What does this economic trend measure?
A: The 'U.S. Granted Patents: Total Patents Originating in Kentucky' trend measures the total number of patents granted annually by the USPTO to inventors and innovators based in the state of Kentucky.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the level of technological innovation and entrepreneurial activity within Kentucky, which is closely watched by economic policymakers and development agencies.
Q: How is this data collected or calculated?
A: The data is collected and reported by the USPTO based on the listed state of residence for each patent grantee.
Q: How is this trend used in economic policy?
A: Policymakers and economic development agencies often monitor patent trends to evaluate the success of programs aimed at stimulating innovation and entrepreneurship within their jurisdictions.
Q: Are there update delays or limitations?
A: The USPTO patent data is typically published with a 1-2 year lag, so the most recent figures may not reflect the current state of innovation in Kentucky.
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Citation
U.S. Federal Reserve, U.S. Granted Patents: Total Patents Originating in Kentucky (PATENTUSKYTOTAL), retrieved from FRED.