U.S. Granted Utility Patents Originating in Beltrami County, MN
PATENTCOUNTY27007 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7.00
Year-over-Year Change
133.33%
Date Range
1/1/2000 - 1/1/2015
Summary
This economic indicator tracks the number of utility patents granted to inventors residing in Beltrami County, Minnesota. It provides insights into regional innovation and technological development.
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 Beltrami County, MN series measures the volume of successful patent applications filed by residents of this county. Patent data serves as a proxy for entrepreneurship, research and development, and the commercialization of new technologies within the local economy.
Methodology
The data is collected by the U.S. Patent and Trademark Office and reported by county.
Historical Context
Policymakers and economic development organizations use this metric to assess the innovative capacity and competitiveness of local communities.
Key Facts
- Beltrami County, MN is home to over 48,000 residents.
- Patents signal new inventions and business creation.
- The county's patent volume has grown 15% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the number of utility patents granted to inventors residing in Beltrami County, Minnesota. It serves as a proxy for innovation and entrepreneurial activity in the local economy.
Q: Why is this trend relevant for users or analysts?
A: Patent data provides insights into the technological and innovative capacity of a regional economy. This metric is useful for policymakers, economic developers, and researchers analyzing a community's competitiveness and growth potential.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Patent and Trademark Office and reported by county of origin for granted utility patents.
Q: How is this trend used in economic policy?
A: Governments and economic development organizations use this indicator to assess the innovative capacity and commercialization of new technologies within a local economy, informing policies to support entrepreneurship and R&D.
Q: Are there update delays or limitations?
A: The patent data has a reporting lag of several months, and may not capture all patent applications originating in the county due to limitations in geographic assignment.
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Citation
U.S. Federal Reserve, U.S. Granted Utility Patents Originating in Beltrami County, MN (PATENTCOUNTY27007), retrieved from FRED.