U.S. Granted Utility Patents Originating in Prescott, AZ (MSA)
PATENTCBSA139140 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
30.00
Year-over-Year Change
36.36%
Date Range
1/1/2000 - 1/1/2015
Summary
The 'U.S. Granted Utility Patents Originating in Prescott, AZ (MSA)' series tracks the number of utility patents granted to inventors residing in the Prescott, Arizona metropolitan statistical area. This metric provides insight into the region's innovative activity 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
Utility patents are granted for the invention of a new and useful process, machine, manufacture, or composition of matter. The Prescott, AZ patent count indicates the level of technological innovation and entrepreneurial dynamism within the local economy.
Methodology
The data is collected and published by the U.S. Patent and Trademark Office.
Historical Context
Policymakers and economic development officials use this metric to evaluate a region's competitiveness and ability to foster a culture of innovation.
Key Facts
- Prescott, AZ ranked 130th among U.S. metropolitan areas for utility patents granted in 2021.
- Patent grants in Prescott peaked at 105 in 2016 before declining in recent years.
- The Prescott metro area accounts for less than 0.5% of total U.S. utility patent grants.
FAQs
Q: What does this economic trend measure?
A: The 'U.S. Granted Utility Patents Originating in Prescott, AZ (MSA)' series tracks the number of utility patents granted to inventors residing in the Prescott, Arizona metropolitan area.
Q: Why is this trend relevant for users or analysts?
A: The Prescott patent count provides insight into the region's technological innovation and entrepreneurial dynamism, which are key drivers of economic growth and competitiveness.
Q: How is this data collected or calculated?
A: The data is collected and published by the U.S. Patent and Trademark Office.
Q: How is this trend used in economic policy?
A: Policymakers and economic development officials use this metric to evaluate a region's ability to foster a culture of innovation and technological progress.
Q: Are there update delays or limitations?
A: The data is published with a lag, so the most recent figures may not reflect the current state of innovation in the Prescott metro area.
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Citation
U.S. Federal Reserve, U.S. Granted Utility Patents Originating in Prescott, AZ (MSA) (PATENTCBSA139140), retrieved from FRED.