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).

Wyoming inventionINDEX Scores – Last 12 months

The Wyoming inventionINDEX reached a significant 35.99% in March 2026, marking a substantial increase from the 15.33% recorded at the start of the year. This current figure reflects a strong recovery from the relatively quieter months of late 2025, placing the state in a dominant position within its innovation cycle. When compared to the previous sixty months, the March 2026 score represents one of the highest levels of performance, tied with the high points observed in September 2025 and October 2024. This trajectory suggests a robust end to the first quarter, characterized by a sharp acceleration in intellectual property development and creative output.

Looking across the five-year historical landscape, the Wyoming data reveals a pattern of significant volatility interspersed with periods of elite-level achievement. The all-time high of 51.89% in March 2025 stands as a testament to the state potential, yet the record also contains stark reminders of vulnerability. The index bottomed out at -8.52% in July 2022 and has periodically dropped to a 1.02% C rating, most recently in August 2024 and April 2023. This historical context illustrates that while Wyoming frequently hits the A+ mark, its innovation environment is subject to sudden shifts that can momentarily disrupt the momentum of its technical growth.

The attainment of higher grades, specifically the consistent A+ ratings seen in the early part of 2026, yields several positive outcomes for the state economic profile. A higher score signifies a high density of invention activity, which serves as a beacon for venture capital and industrial partnerships seeking untapped markets. For a state traditionally reliant on natural resources, these elevated scores represent a critical step toward economic diversification and the establishment of a knowledge-based economy. Such performance also enhances the prestige of local research institutions, making it easier to attract and retain specialized talent that might otherwise migrate to larger coastal tech hubs.

Conversely, the negative implications of lower scores or a return to the F and C ratings seen in the past present a risk to regional stability. A lower inventionINDEX score often suggests a lack of investment in research or a breakdown in the pipeline from idea to implementation. When the score falls to the 1.02% range, it indicates that the state may be losing its competitive edge in the national innovation landscape, potentially leading to reduced federal funding and a cooling of the local tech sector. Maintaining the current high levels is therefore essential to prevent stagnation and to ensure that Wyoming remains a viable player in the increasingly technical global marketplace.

Discussion:

In March, the Wyoming 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 a considerable 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 Wyoming office provides R&D tax credit consulting and advisory services to Cheyenne, Casper, Laramie, Gillette, and Rock Springs.

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.