U.S. Granted Utility Patents Originating in Austin-Round Rock-San Marcos, TX (MSA)
PATENTCBSA112420 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,700.00
Year-over-Year Change
50.67%
Date Range
1/1/2000 - 1/1/2015
Summary
This economic trend measures the number of utility patents granted by the U.S. Patent and Trademark Office that originate in the Austin-Round Rock-San Marcos, TX metropolitan statistical area (MSA). It serves as an indicator of innovation and technological activity in this major Texas business hub.
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, designs, or improvements. Tracking patent grants at the local MSA level provides insights into regional centers of innovation and entrepreneurial activity across the United States.
Methodology
The data is collected by the U.S. Patent and Trademark Office and published through the Federal Reserve Economic Data (FRED) platform.
Historical Context
This metric is used by economists, policymakers, and businesses to assess the innovation ecosystem and competitiveness of different U.S. metropolitan areas.
Key Facts
- Austin-Round Rock-San Marcos, TX ranks among the top U.S. metro areas for utility patent grants.
- Patents are a key driver of economic growth and technological progress.
- The Austin metro area is known for its thriving tech and startup ecosystem.
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 originate in the Austin-Round Rock-San Marcos, TX metropolitan statistical area.
Q: Why is this trend relevant for users or analysts?
A: Tracking patent grants at the local MSA level provides insights into regional centers of innovation and entrepreneurial activity, which is highly relevant for economists, policymakers, and businesses.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Patent and Trademark Office and published through the Federal Reserve Economic Data (FRED) platform.
Q: How is this trend used in economic policy?
A: This metric is used by economists, policymakers, and businesses to assess the innovation ecosystem and competitiveness of different U.S. metropolitan areas, which informs economic development strategies and policies.
Q: Are there update delays or limitations?
A: The data is published with some delay, and may not capture all patents originating in the MSA due to limitations in attribution.
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Citation
U.S. Federal Reserve, U.S. Granted Utility Patents Originating in Austin-Round Rock-San Marcos, TX (MSA) (PATENTCBSA112420), retrieved from FRED.