NEVADA INVENTIONINDEX | NOVEMBER 2025

November 2025: 0.68% (C- grade)

Nevada inventionINDEX November 2025: 0.68% (C- grade)

The inventionINDEX measures innovation output by comparing GDP growth with patent production growth. 

Anything over C grade is positive sentiment; anything under C is negative outlook/sentiment. Using that sentiment, it is possible to observe trends over time, and also compare states/countries. In doing so, we can predict which states have the best chance to recover economically from the pandemic (or any other economic incident that may occur).

Nevada inventionINDEX Scores – Last 12 months

The Nevada inventionINDEX for November 2025 settled at 0.68%, carrying a C- rating. This figure represents a subtle decline from the 0.74% recorded in October and a more pronounced retreat from the 2.05% peaks observed in both July and September of this year. When compared to the 2025 annual average of approximately 1.15%, the current score suggests a period of relative deceleration in innovation metrics. This contraction marks the conclusion of a volatile year during which the index fluctuated between the low 2% range and the mid 0.6% range, indicating a shift toward a more conservative environment as the fourth quarter progresses.

Examining the broader 60-month historical trajectory reveals that the current score sits comfortably above the historical floor but remains well below previous record heights. The index reached its zenith in February 2024 with a notable score of 3.85% and an A+ rating, a level of performance that has not been replicated in the 21 months since. Conversely, the market experienced a significant trough in January 2022 when the score dipped into negative territory at -0.06%. While the current 0.68% is a substantial improvement over those early 2022 lows, it lacks the momentum seen during the sustained growth periods of 2024, placing the current state in a middle-tier historical context.

Higher grades on the inventionINDEX, such as the B and A ratings seen periodically over the last five years, signify a robust ecosystem for intellectual property and commercial development. When the score climbs toward 2.00% or higher, it typically correlates with increased venture capital interest, a surge in patent filings, and a general atmosphere of entrepreneurial confidence. Such outcomes foster long-term economic resilience and position Nevada as a competitive hub for technological advancement. A higher rating suggests that the barriers to entry for new ideas are lower and the support systems for inventors are operating at peak efficiency, creating a virtuous cycle of growth.

In contrast, lower scores like the current C- rating or the D-rated periods observed in 2022 and early 2023 carry implications of systemic friction or reduced output. A lower index score can signal a period of risk aversion among stakeholders, where funding for speculative research may tighten and the pace of new product introductions slows. If the index continues to trend downward toward the D range, it may indicate that the local innovation pipeline requires strategic intervention or renewed investment to regain its previous vitality. Monitoring these shifts is essential for maintaining a clear understanding of the region’s long-term economic and developmental health.

Discussion:

In November, the Nevada inventionINDEX scored a negative sentiment which was lower than the previous year’s average and underperformed the upward trend for the year. This is in contrast to the prior 12 months, which experienced a considerable downward trend. 

As the economy continues to stabilize in the post-pandemic era, it remains uncertain whether any backlog of applications still exists or if the department has returned to normal processing timelines. The inventionINDEX could also be affected by lingering consequences from the pandemic, such as company closures, reduced workforces, and limited R&D capabilities, which may still be impacting current operations.

Learn More:

Are you thinking of patenting any of your bright ideas? Did you know your research work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? To find out more, please check out our free online eligibility test.

Swanson Reed’s Nevada office provides R&D tax credit consulting and advisory services to Las Vegas, Henderson, Reno, North Las Vegas, Sparks, Carson City, Fernley, Elko, Mesquite, and Boulder City.

Feel free to book a quick teleconference with one of R&D tax specialists if you would like to learn more about R&D tax credit opportunities.

Who We Are:

Swanson Reed is the largest Specialist R&D tax credit advisory firm in the United States. With offices nationwide, we are one of the only firms globally to exclusively provide R&D tax credit consulting services to our clients. We have been exclusively providing R&D tax credit claim preparation and audit compliance solutions for over 30 years. 

Swanson Reed hosts daily free webinars and provides free IRS CE and CPE credits for CPAs.  For more information please visit us at www.swansonreed.com/free-webinars or contact your usual Swanson Reed representative.