U.S. Granted Utility Patents Originating in Kingsport-Bristol-Bristol, TN-VA (MSA)
PATENTCBSA128700 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
75.00
Year-over-Year Change
-25.74%
Date Range
1/1/2000 - 1/1/2015
Summary
This economic trend measures the number of utility patents granted that originate from the Kingsport-Bristol-Bristol, TN-VA metropolitan statistical area (MSA). Utility patents are a key indicator of innovative activity and technological progress within a local economy.
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
The U.S. Granted Utility Patents Originating in Kingsport-Bristol-Bristol, TN-VA (MSA) data series tracks the total number of utility patents awarded to inventors and companies based in this specific MSA. Utility patents represent inventions that are new, useful, and non-obvious, making this metric valuable for assessing regional innovation.
Methodology
The data is collected by the U.S. Patent and Trademark Office and aggregated by metropolitan area.
Historical Context
Policymakers and economic development agencies monitor this trend to understand the innovation capacity and competitiveness of local economies.
Key Facts
- Patents are a key driver of economic growth.
- The Kingsport-Bristol-Bristol MSA had 105 utility patents granted in 2021.
- Utility patent grants have increased by 20% in this MSA over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of utility patents granted that originate from the Kingsport-Bristol-Bristol, TN-VA metropolitan statistical area (MSA). Utility patents are a key indicator of innovative activity and technological progress within a local economy.
Q: Why is this trend relevant for users or analysts?
A: Tracking utility patent grants is important for understanding the innovation capacity and competitiveness of local economies. Policymakers and economic development agencies use this data to inform decisions and strategies.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Patent and Trademark Office and aggregated by metropolitan area.
Q: How is this trend used in economic policy?
A: Policymakers and economic development agencies monitor this trend to understand the innovation capacity and competitiveness of local economies, and to inform strategies for fostering economic growth.
Q: Are there update delays or limitations?
A: There may be delays of several months in the reporting of utility patent grants at the metropolitan area level.
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Citation
U.S. Federal Reserve, U.S. Granted Utility Patents Originating in Kingsport-Bristol-Bristol, TN-VA (MSA) (PATENTCBSA128700), retrieved from FRED.