WYOMING INVENTION INDEX – MARCH 2025

The Invention Index measures a country’s or state’s innovation output by comparing GDP growth with patent production growth. 

Wyoming Invention Index March 2025: 51.89% (A+ grade)

Wyoming Invention Index over the last year:

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).

Here is the table of Wyoming’s Invention Index scores from September 2024 to March 2025:

Analysis:

The Invention Index score for March 2025 (51.89%) marks a significant upward shift compared to February 2025 (23.27%), showing a month-over-month increase of 28.62 percentage points—the largest jump in the seven-month period. Prior to this, February had already demonstrated growth from January’s 16.92%, continuing a rising trend that began in December.

Looking at the long-term trajectory, the scores fluctuate rather than follow a smooth trend. From a modest start in September (12.15%), the score peaked in October (35.99%) before dipping sharply in November (20.10%) and December (13.74%). A gradual increase resumed in January and February, culminating in the March spike.

The most notable changes occurred in October 2024 (+23.84 percentage points from September) and March 2025 (+28.62 from February), both suggesting periods of heightened inventive activity. Conversely, the drop from October to December highlights a volatile middle phase, with scores decreasing significantly over two months.

Contextually, the March 2025 score stands well above the average for the previous six months and may signal a turning point rather than an isolated spike. While it’s too early to determine whether this increase represents a sustained upward trend, the consistent growth since December supports cautious optimism.

Discussion:

In March, the Wyoming Invention Index 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 world continues to recover from the height of the Covid-19 pandemic, it is unclear if there is any backlog of applications awaiting approval or if the department has fully caught up. If approvals are not yet caught up, we may see a decrease in approvals – and a reduced Invention Index – in the coming months/years as the state feels the full economic impact of companies closing and/or being forced to minimize their staffing and therefore minimize their R&D work hours.

Learn more about the Invention Index here.

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 contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

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