Utah inventionINDEX September 2026: 1.56% (B+ 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).

Historical Utah inventionINDEX Scores

The Utah inventionINDEX score for the past 12 months is shown in the table below.

The Utah inventionINDEX recorded a score of 1.56 percent with a B+ rating in September 2026, positioning the state’s innovation ecosystem above its historical 60-month average of 1.47 percent. While this reflects a mild pullback from August 2026’s 1.68 percent score, it represents a solid recovery from July 2026’s dip to 1.29 percent (B-) and continues a strong summer trend that saw June reach 1.61 percent. When compared to the same period in previous years, the current 1.56 percent score outperforms September 2024’s 1.43 percent (B) and September 2022’s 1.23 percent (C+), though it trails September 2023’s exceptionally high 1.89 percent (A). Overall, the latest metric confirms that Utah maintains a healthy, upper-tier trajectory heading into the final quarter of 2026.

Examining the full 60-month historical trend reveals significant cyclical fluctuations across the index, anchored by remarkable highs and notable contractions. The benchmark achieved its historic apex in November 2023 with a score of 2.89 percent and an A+ rating, driven by an extraordinary surge in intellectual property activity and venture development. Conversely, the index hit its lowest point in August 2024 at 0.99 percent with a C- rating, illustrating a temporary contraction before rebounding sharply to 1.73 percent (A-) by October 2024. Across the entire five-year span, scores clustered predominantly in the B-range between 1.30 percent and 1.65 percent, demonstrating that September 2026’s reading aligns with periods of sustained structural strength.

Higher inventionINDEX scores and premium letter grades, particularly those in the B+ to A+ range, generate substantial positive momentum for Utah’s economic landscape. An elevated index signals robust research and development output, vibrant startup formation, and heightened commercialization of emerging technologies. These favorable conditions boost venture capital attraction, reassure corporate stakeholders, and foster high-value job creation in STEM sectors. Furthermore, strong scores enhance institutional reputation, encouraging top talent and research institutions to collaborate within the state’s expanding technology corridor.

In contrast, lower scores and diminished ratings—such as those falling into the C range below 1.20 percent—signal potential vulnerabilities in the innovation pipeline. A prolonged drop in the index typically indicates reduced patent filing activity, tighter private equity funding, or macroeconomic headwinds that delay product commercialization. These weaker ratings can lead to cautious capital allocation, decreased corporate R&D investment, and slower employment growth within high-tech industries. Addressing lower scores requires strategic policy support, targeted funding initiatives, and public-private partnerships aimed at revitalizing early-stage invention and development.

Discussion:

In September, the Utah inventionINDEX scored a positive sentiment which was higher than the previous year’s average and outperformed the upward trend for the year. This is similar to the prior 12 months, which experienced an upward 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 Utah office provides R&D tax credit consulting and advisory services to Salt Lake City, West Valley City, Provo, West Jordan, Orem, Sandy, Ogden, St George, Layton and Taylorsville

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.