U.S. Granted Utility Patents Originating in Baltimore-Towson, MD (MSA)
PATENTCBSA112580 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
846.00
Year-over-Year Change
30.15%
Date Range
1/1/2000 - 1/1/2015
Summary
This economic trend measures the number of utility patents originating in the Baltimore-Towson, MD metropolitan statistical area (MSA). Utility patents reflect innovative activity and technological progress, making this a key indicator for regional economic analysis.
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 Baltimore-Towson, MD (MSA) metric tracks the total number of utility patents granted to inventors residing in the Baltimore-Towson MSA. This data provides insights into the region's innovation capacity and competitiveness.
Methodology
The data is collected by the U.S. Patent and Trademark Office and aggregated by metropolitan area.
Historical Context
Policymakers and economic development organizations use this trend to evaluate the Baltimore region's innovation ecosystem and competitiveness.
Key Facts
- Baltimore-Towson ranks among the top 20 U.S. metro areas for utility patents.
- Utility patents have increased by over 50% in the Baltimore-Towson MSA since 2010.
- Biotechnology and medical devices are key drivers of patent activity in the region.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of utility patents granted to inventors residing in the Baltimore-Towson, MD metropolitan statistical area (MSA).
Q: Why is this trend relevant for users or analysts?
A: Utility patents are a key indicator of innovative activity and technological progress, making this trend relevant for understanding the competitiveness and growth potential of the Baltimore region's economy.
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 organizations use this trend to evaluate the Baltimore region's innovation ecosystem and competitiveness, which informs strategies for fostering technological innovation and growth.
Q: Are there update delays or limitations?
A: There may be a several-month delay in the availability of the most recent data due to the time required for patent application processing and aggregation.
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Citation
U.S. Federal Reserve, U.S. Granted Utility Patents Originating in Baltimore-Towson, MD (MSA) (PATENTCBSA112580), retrieved from FRED.