U.S. Granted Patents: Total Patents Originating in Ohio
PATENTUSOHTOTAL • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,386.00
Year-over-Year Change
70.82%
Date Range
1/1/1992 - 1/1/2020
Summary
The 'U.S. Granted Patents: Total Patents Originating in Ohio' trend measures the total number of patents granted to inventors residing in the state of Ohio. This data provides insights into the innovation and technological activity within the state's economy.
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
This series tracks the total patents originating from Ohio, which serves as an indicator of the state's inventive capacity and ability to transform ideas into commercial products. Economists and policymakers analyze this data to assess Ohio's relative position in the national innovation landscape.
Methodology
The data is collected and published by the U.S. Patent and Trademark Office.
Historical Context
This trend is used to inform state-level economic development policies and track Ohio's competitiveness in high-tech industries.
Key Facts
- Ohio ranks 7th among U.S. states for total patents granted.
- Patent activity in Ohio has increased by 25% over the past decade.
- Manufacturing and technology sectors account for the majority of Ohio's patents.
FAQs
Q: What does this economic trend measure?
A: The 'U.S. Granted Patents: Total Patents Originating in Ohio' trend measures the total number of patents granted to inventors residing in the state of Ohio.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into Ohio's innovative capacity and technological competitiveness, which is relevant for economic development, policy analysis, and industry benchmarking.
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 state officials use this trend to inform economic development strategies and track Ohio's competitiveness in high-tech industries.
Q: Are there update delays or limitations?
A: The data is published with a lag of several months, and may not capture all patents originating from Ohio due to potential reporting or classification issues.
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Citation
U.S. Federal Reserve, U.S. Granted Patents: Total Patents Originating in Ohio (PATENTUSOHTOTAL), retrieved from FRED.