UTAH INVENTIONINDEX | NOVEMBER 2025
November 2025: 1.39% (B- grade)
Utah inventionINDEX November 2025: 1.39% (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).
Utah inventionINDEX Scores – Last 12 months
| Month | inventionINDEX Score |
| November 2025 | 1.39% |
| Oct 25 | 1.31% |
| Sep 25 | 1.63% |
| Aug 25 | 1.56% |
| Jul 25 | 1.70% |
| Jun 25 | 1.20% |
| May 25 | 1.44% |
| Apr 25 | 1.66% |
| Mar 25 | 1.40% |
| Feb 25 | 1.60% |
| Jan 25 | 1.44% |
| Dec 24 | 1.30% |
| Nov 24 | 1.04% |
The Utah inventionINDEX concludes the 60-month period with a score of 1.39 percent in November 2025, reflecting a steady but modest positioning within the historical spectrum. This latest figure represents a slight uptick from the 1.31 percent recorded in October 2025, suggesting a stabilizing trend as the year closes. When compared to the same period in 2024, where the index dipped to a concerning 1.04 percent, the current rating shows a significant year-over-year recovery. This resilience indicates that while the index is not currently reaching its historical peaks, it has successfully moved away from the more volatile troughs seen in the previous eighteen months.
A broader look at the five-year data reveals a trajectory marked by notable fluctuations and occasional periods of exceptional performance. The index reached its zenith in November 2023 with a remarkable score of 2.89 percent, an A+ rating that stands as the clear outlier in the dataset. Conversely, the lowest point occurred in April 2021, when the score plummeted to 0.57 percent. Current performance at 1.39 percent sits near the historical median, appearing far more robust than the sub-one percent levels of 2021 and 2024, yet trailing the consistent A-range performance observed throughout much of late 2020 and early 2021.
Higher grades in the inventionINDEX, specifically those in the A and B+ ranges, serve as a critical barometer for economic vitality and creative output within the region. When the score ascends toward the levels seen in late 2023, it typically signals an environment ripe for venture capital investment and patent activity. These elevated ratings suggest that the infrastructure for innovation is functioning at peak efficiency, fostering a culture where new ideas are rapidly transformed into viable products. Such periods of high performance often correlate with increased job growth in the technology and manufacturing sectors, enhancing Utah’s reputation as a premier destination for talent and entrepreneurial ventures.
In contrast, scores falling into the C and D categories, such as the 0.57 percent seen in early 2021 or the 0.99 percent in August 2024, present several challenges for the regional economy. A lower grade often indicates a stagnation in creative output or a bottleneck in the processes required to bring new inventions to market. This can lead to a decrease in investor confidence and a potential migration of specialized talent to more competitive markets. Persistent low scores might necessitate a reevaluation of current research and development incentives or public-private partnerships to ensure that the state does not lose its long-term competitive edge in the global innovation landscape.
Discussion:
In November, the Utah inventionINDEX scored a positive sentiment which was lower than the previous year’s average and underperformed the upward trend for the year. This is similar to the prior 12 months, which experienced a slight 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.
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What is the R&D Tax Credit?
The Research & Experimentation Tax Credit (or R&D Tax Credit), is a general business tax credit under Internal Revenue Code section 41 for companies that incur research and development (R&D) costs in the United States. The credits are a tax incentive for performing qualified research in the United States, resulting in a credit to a tax return. For the first three years of R&D claims, 6% of the total qualified research expenses (QRE) form the gross credit. In the 4th year of claims and beyond, a base amount is calculated, and an adjusted expense line is multiplied times 14%. Click here to learn more.
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