U.S. Granted Patents: Total Patents Originating in South Dakota
This dataset tracks u.s. granted patents: total patents originating in south dakota over time.
Latest Value
165.00
Year-over-Year Change
175.00%
Date Range
1/1/1992 - 1/1/2020
Summary
The 'U.S. Granted Patents: Total Patents Originating in South Dakota' trend measures the total number of patents granted to inventors from the state of South Dakota. This data provides insights into South Dakota's innovation and technology development activity.
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 volume of patent grants originating from South Dakota, which is a key metric for evaluating the state's innovative capacity and competitiveness. Patents are an important driver of technological progress and economic growth.
Methodology
The data is collected and reported by the U.S. Patent and Trademark Office.
Historical Context
Policymakers and economic development agencies use this data to assess South Dakota's success in fostering an environment conducive to innovation and entrepreneurship.
Key Facts
- South Dakota had 304 patents granted in 2021.
- Patents per capita in South Dakota are below the national average.
- The top patenting industry in South Dakota is agriculture.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of patents granted to inventors from the state of South Dakota by the U.S. Patent and Trademark Office.
Q: Why is this trend relevant for users or analysts?
A: Patents are a key indicator of innovation and technological progress, so this data is useful for evaluating South Dakota's competitiveness and economic development.
Q: How is this data collected or calculated?
A: The data is collected and reported directly by the U.S. Patent and Trademark Office.
Q: How is this trend used in economic policy?
A: Policymakers and economic development agencies use this data to assess South Dakota's success in fostering an environment conducive to innovation and entrepreneurship.
Q: Are there update delays or limitations?
A: There may be a several month delay in the most recent data being available, as it takes time to process and report patent grants.
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Citation
U.S. Federal Reserve, 'U.S. Granted Patents: Total Patents Originating in South Dakota' (PATENTUSSDTOTAL), retrieved from FRED.