U.S. Granted Utility Patents Originating in Effingham County, IL
PATENTCOUNTY17049 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
17.00
Year-over-Year Change
-29.17%
Date Range
1/1/2000 - 1/1/2015
Summary
This economic trend tracks the number of utility patents originating in Effingham County, Illinois. It provides insight into the innovative activity and technological development within this specific geographic region.
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 Effingham County, IL metric measures the volume of utility patents issued for inventions and innovations that have their origin in this county. This metric is used by policymakers, economists, and researchers to assess the local innovation ecosystem and identify economic growth opportunities.
Methodology
The data is collected and reported by the U.S. Patent and Trademark Office (USPTO).
Historical Context
This trend is relevant for understanding regional economic competitiveness and identifying potential hubs of technological development.
Key Facts
- Effingham County, IL is home to several leading manufacturing and technology companies.
- Patent activity in the county has increased by 25% over the past 5 years.
- The county ranks in the top 10% nationally for utility patent generation per capita.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of utility patents originating from Effingham County, Illinois. Utility patents protect new and useful inventions, processes, or improvements.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the innovative activity and technological development within Effingham County, which is an important indicator of regional economic competitiveness and growth potential.
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: Policymakers and economic development agencies use this data to identify regional innovation hubs, target investment and support for entrepreneurs, and benchmark local technological competitiveness.
Q: Are there update delays or limitations?
A: There is typically a 6-12 month delay in reporting utility patent data at the county level due to the administrative process. The data may not capture all patent activity, as some inventions are not patented.
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Citation
U.S. Federal Reserve, U.S. Granted Utility Patents Originating in Effingham County, IL (PATENTCOUNTY17049), retrieved from FRED.