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November 22, 2006

Patents linked to income growth

Fort Worth Star Telegram (reprinted from The Plain Dealer), November 20

If necessity is the mother of invention, a recent trend in patents could bode well for Ohio's struggling economy. After starring as an incubator of inventions early in the 20th century, the number of patents awarded to Ohioans fell year after year. But in the 1990s, economists noted a change. Patent awards were on the rise. Ned Hill, vice president for economic development at Cleveland State University, said patents are on the rise because the quality of research at Case Western Reserve University and Ohio State University "has just gotten a lot better in the last decade, and they're paying more attention to patents." Read article.