AXIOS March 28, 2024
Northwest Arkansas, Louisville and New Orleans are emerging as America’s new innovation hotspots, as measured by the change in utility patents granted over time per 100,000 residents.
Why it matters: While Silicon Valley still holds the title for most patents awarded overall, the rate of change over time offers a compelling look at newly ascending areas.
- Utility patents may be granted for inventing or discovering a new and useful process, machine or composition of matter, among other things.
By the numbers: The Fayetteville metro area (which includes Bentonville) had 24.9 patents granted for every 100,000 residents in 2022, up from 10.2 in 2012 — a 144.1% increase, per U.S. Patent and Trademark Office data.
- Louisville had 27.3...
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