Texas is One of America’s Most Inventive States, Study Says

One of the most formative influences on societies are the inventions that come from them. The ability to solve problems through the invention of new things has shaped the course of history. Regardless of whether someone is motivated by money, fame, or simple curiosity, inventions drive us forward. Some inventions like the light bulb and the world wide web change the course of history, and others simply make life a little more convenient.

Regardless of their purpose, inventions are good for the economy. When people successfully invent new things, they create new businesses and employ new people, which boosts the local economy. According to an article from Forbes, small businesses account for 60 to 80 percent of all jobs in the US. This may seem like a surprising number, but it really drives home the importance of these businesses and the ideas they are founded on.

On top of that, the article states that small businesses produce 13 times more patents than large businesses do. When considering the large portion of the economy they make up, it seems a little less surprising but either way, this difference is significant. Whereas large businesses are typically built on established ideas and products, small businesses have an opportunity to create new products and carve out new market share.

Since 1976, US residents have filed for more than 3.3 million patents, according to data from the United States Patent and Trademark Office database. With this data, QAD published a study showing the geographic breakdown of these patents. Though the top state for the number of patents filed since 1976 was California (surprise, surprise), the great state of Texas came in as the third most inventive state in the country!

With over 206,433 patents filed between 1976 and 2015, there were an average of 5,293 patents filed per year by Texans. Breaking that down further, that comes out to 15 patents per day! Considering that small business firms accounted for over 98 percent of the employment in Texas according to the Small Business Administration, we can only assume that these inventions have led to jobs and new businesses. While there is no way to know for sure how many of these ideas turned into new businesses, you can guarantee that this consistent level of innovation had a direct influence on the state and national economy.