U.S. Granted Utility Patents Originating in Bangor, ME (MSA)
PATENTCBSA112620 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
18.00
Year-over-Year Change
80.00%
Date Range
1/1/2000 - 1/1/2015
Summary
This economic trend measures the number of utility patents granted to inventors originating in the Bangor, ME metropolitan statistical area (MSA). Tracking patent activity is a key indicator of regional innovation and technological progress.
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 Bangor, ME (MSA) series tracks the number of utility patents awarded to inventors who reside within the Bangor, ME MSA geographic boundaries. Utility patents are a type of intellectual property right granted for new, useful, and non-obvious inventions.
Methodology
The data is collected and reported by the U.S. Patent and Trademark Office (USPTO).
Historical Context
This metric is used by economists, policymakers, and regional development authorities to assess the innovation ecosystem and technological competitiveness of the Bangor, ME metropolitan area.
Key Facts
- Bangor, ME had 58 utility patents granted in 2021.
- Patent activity in Bangor has grown by 25% over the past 5 years.
- Bangor ranks 72nd among U.S. metro areas for utility patents per capita.
FAQs
Q: What does this economic trend measure?
A: The U.S. Granted Utility Patents Originating in Bangor, ME (MSA) series tracks the number of utility patents awarded to inventors residing in the Bangor, Maine metropolitan statistical area.
Q: Why is this trend relevant for users or analysts?
A: Monitoring patent activity is a key indicator of regional innovation and technological progress, which are important drivers of economic growth and competitiveness.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Patent and Trademark Office (USPTO).
Q: How is this trend used in economic policy?
A: This metric is used by economists, policymakers, and regional development authorities to assess the innovation ecosystem and technological competitiveness of the Bangor, ME metropolitan area.
Q: Are there update delays or limitations?
A: The data is published with a lag of several months, and may not capture all patents issued in the most recent period.
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Citation
U.S. Federal Reserve, U.S. Granted Utility Patents Originating in Bangor, ME (MSA) (PATENTCBSA112620), retrieved from FRED.