(Chart by D.C.'s Office of Revenue Analysis)
A fair amount of patents are a good indicator of a healthy tech sector. That’s why District, Measured, the official blog of the D.C. Office of Revenue Analysis, analyzed how many inventions the metro area is producing each year. The numbers aren’t phenomenal, but they’re improving.
According to an analysis of U.S. Patent and Trademark Office numbers, the D.C. area ranked 16 out of 374 metro areas in terms of number of patents issued in 2013. That’s below Minneapolis, Detroit and Atlanta.
But that might change soon, because the capital metro area is also the sixth fastest-growing metro area in the country in terms of patents issued each year. Between 2003 and 2013, the number grew by 72 percent. That’s more than Boston, Houston and New York.
In the post, Director of Revenue Estimation for the Office of Revenue Analysis Steven Giachetti suggests that the District might shine in other ways than its tax rate or the local cost of doing business:
It seems that the eco-system surrounding [the top three markets, San Jose, San Francisco and New York], including the presence of world class universities and research institutions in the tech areas, and the ability to attract the most talented individuals in their fields also play an important role in where tech firms and innovators choose to locate.
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