UTAH INVENTIONINDEX | MAY 2025
May 2025: 1.44% (B grade)
Utah inventionINDEX May 2025: 1.44% (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).
The Utah inventionINDEX score for May 2025 stands at 1.44%, reflecting a modest but steady level of innovation activity across the state. When compared to April 2025’s 1.66%, the current score suggests a slight deceleration in inventive momentum. However, this figure still remains above several prior months, including December 2024 (1.30%) and November 2024 (1.04%), indicating that the broader trend over the past year is one of gradual improvement in innovation dynamics. This suggests that while monthly fluctuations are to be expected, the underlying capacity for invention and technological output remains intact.
Looking more closely at the 12-month trajectory, there are key peaks that serve as benchmarks—namely July 2024 (1.78%) and October 2024 (1.73%)—both of which reflect periods of heightened innovation. May 2025’s return to 1.44% positions the current score within the midrange of the year’s historical data. It demonstrates resilience following the minor dip in March 2025 (1.40%), potentially pointing to stabilization. Relative to the long-term average, Utah continues to maintain a performance level that reflects consistent engagement in research, patent filings, and technological entrepreneurship.
A higher inventionINDEX score typically signals an active innovation ecosystem. It often correlates with increased patent activity, stronger intellectual property output, and greater venture investment appeal. These outcomes can contribute to job creation in high-skill sectors, attract talent, and improve the state’s competitiveness in emerging technologies. For policymakers and economic planners, elevated scores are useful indicators of the effectiveness of R&D incentives and university-industry collaborations, allowing for data-informed decision-making.
On the other hand, a lower inventionINDEX score may highlight challenges such as reduced R&D spending, regulatory hurdles, or slowed university tech transfer. Prolonged periods of decline could suggest waning momentum among startups or difficulties in commercializing ideas. If unaddressed, such trends might hinder economic diversification and reduce Utah’s influence in national innovation rankings. Therefore, while May’s score is stable, continued attention to innovation drivers will be critical to maintaining growth and avoiding future stagnation.
Discussion:
In May, the Utah inventionINDEX scored a positive sentiment which was higher than the previous year’s average but underperformed the upward trend for the year. This is in contrast to the prior 12 months, which experienced a slight 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 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.
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