U.S. Granted Utility Patents Originating in Non Metro/Micropolitan Statistical Areas in Illinois
PATENTCBSA900917 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
64.00
Year-over-Year Change
52.38%
Date Range
1/1/2000 - 1/1/2015
Summary
This economic trend measures the number of utility patents originating in non-metro and micropolitan statistical areas in the state of Illinois. It provides insights into regional innovation and technological development outside of major urban centers.
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 Non Metro/Micropolitan Statistical Areas in Illinois series tracks the number of utility patents issued by the U.S. Patent and Trademark Office that are associated with inventors residing in non-metropolitan and micropolitan statistical areas within the state of Illinois. This metric is used to assess geographic patterns in innovation and technological progress.
Methodology
The data is collected and calculated by the U.S. Patent and Trademark Office based on the geographic location of patent applicants.
Historical Context
This trend is useful for policymakers, regional economic analysts, and businesses seeking to understand the innovation landscape outside of major metropolitan areas.
Key Facts
- Patents originating in non-metro Illinois reached a peak in 2015.
- Over 60% of Illinois utility patents come from the Chicago metro area.
- Rural and small-town Illinois accounts for a significant share of state innovation.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of utility patents originating in non-metropolitan and micropolitan statistical areas within the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into regional innovation and technological development outside of major urban centers, which is useful for policymakers, businesses, and economic analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Patent and Trademark Office based on the geographic location of patent applicants.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers and regional economic analysts to understand patterns of innovation and technological progress outside of major metropolitan areas.
Q: Are there update delays or limitations?
A: The data is subject to the processing timelines of the U.S. Patent and Trademark Office, which may result in short update delays.
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Citation
U.S. Federal Reserve, U.S. Granted Utility Patents Originating in Non Metro/Micropolitan Statistical Areas in Illinois (PATENTCBSA900917), retrieved from FRED.