Wisconsin IDEA
Insight • Data • Economics • Analysis

Examining Patent Data in Wisconsin’s Economy

Highest Concentrations of Patent Activity in Dane, Waukesha, and Ozaukee Counties

Economists tend to disagree on most issues, but there is uniform agreement that innovation is the key to economic growth and development. Innovation is generally known to be the introduction of a new idea, method, or means of doing something, or device, or in the simplest sense, introducing something new. Innovation can range from the complex perhaps leading to the Schumpeterian notion of “creative destruction” to the simplistic such as a business adopting cloud computing technologies. Researchers who study innovation have a challenge: how do we measure and quantify innovation?

One common approach is to track patent data where patent activity is a proxy for innovation. Patents are a government-issued right of use for a limited period of time. Innovations are often patented allowing the innovator the opportunity to have exclusive rights to bring the innovation to market. As such, tracking patent data can give insights into innovation patterns. But patents as a proxy for innovation have limitations. First and foremost, not all innovations are patented. Second, many patented items are never brought to market and hence have little to no impact on the economy. Thus, patent data is but one piece of the innovation puzzle.

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Econ Quiz: Tipping

A recent Pew Research Center survey respondents were asked how likely they were to tip in a variety of scenarios. It’s probably not a surprise that 92% of Americans “always” or “often” tip while eating at a sit-down restaurant. The second most agreed upon tipping scenario was getting a haircut, with 78% of Americans “always” or “often” tipping. These scenarios are followed by having food delivered (76%), buying a drink at a bar (70%), and using a taxi or rideshare service (61%). Pew asked respondents what their standard tip would be at a sit-down restaurant where they received average, but not exceptional, service. Thirty-seven percent of respondents answered that they would leave a 15% tip as their standard for average, but not exceptional, service.

That brings us to today’s question. What percentage of survey respondents reported that they would leave a tip of at least 20% at a sit-down restaurant where they received average, but not exceptional, service?

A. 2%

B. 18%

C. 24%

D. 30%

E. 45%

Find Answer

Extension Announces Hiring of Three Broadband Specialists

We are excited to announce our most recent hires to Extension’s broadband team. These individuals will work together with Gail Huycke, Community Development Broadband Specialist, and Chris Stark, Digital Equity & Inclusion Specialist, to advance Internet for All Wisconsin residents. Please welcome:

John C. Parrish - Broadband Community Planning Specialist
Jessica Beckendorf - Broadband Partnership Specialist
Brittany Beyer, Broadband Resource Procurement Specialist

Upcoming Events

2024 Wisconsin Agricultural Outlook Forum

Tuesday, January 23, 2024 | 9:30 am - 4:00 pm

Registration is now open for the 2024 Wisconsin Agricultural Outlook Forum, which will take place on Tuesday, January 23, 2024, on the UW-Madison campus. The 2024 Forum runs from 9:30 a.m. - 4:00 p.m., followed by a reception until 5:30 p.m., in Varsity Hall in Union South, located at 1308 West Dayton Street, Madison.

The 2024 Wisconsin Agricultural Outlook Forum will begin with a morning devoted to the Situation and Outlook for farm income and the Wisconsin economy, as well as for the state’s major commodities: dairy, livestock and meat, corn, and soybeans. The afternoon will focus on “Rural Livability in Wisconsin” and we will hear from leaders in the public and non-profit sectors that are engaged in efforts to maintain, enhance, or revitalize rural life. Our goal is for people to better understand the challenges facing rural Wisconsin communities and what our intellectual and public leaders are doing to help.

The registration fee of $50.00 covers the Forum, lunch, breaks, and reception. Online registration closes January 19th. The Forum will also be livestreamed for those not able to attend and will be made available on the Renk Agribusiness Institute YouTube page, no registration required.

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Come to Platteville this spring and explore how local entrepreneurship drives the Driftless Region’s development. Network with fellow community champions from around the state. And gain new technical skills for promoting entrepreneurship in your small town.

An annual event in other Midwestern states, the CEC Conference is coming to Wisconsin for the first time in 2024. Business leaders, economic development professionals, local leaders, and community champions will gather in Platteville for two days of programming about strategies for supporting entrepreneurship in Wisconsin’s small towns.

Not a typical conference, CEC will tour attendees around Platteville to explore the Driftless Region’s entrepreneurial ecosystem. Local businesses will host panels and presentations, and conference attendees can check out the local food scene, visit key community sites, and network with fellow leaders in rural development. Participants will walk away with new perspectives and strategies for building entrepreneurial ecosystems in their small towns.

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In the News

Microsoft invests billions into Mount Pleasant, Racine County to build data centers

(The Badger Herald -12/6/2023)

The Road to Rural Broadband

(Grow - 11/10/203)

Dane County Regional Airport flight departures most expensive in nation

(The Badger Herald - 11/9/203)

Do U.S. co-op models have solutions for rural Alberta?

(Town and Country - 11/1/203)

Wisconsin poverty has come down from highs of the 2008 recession, but still above early 2000s lows

(Wisconsin Public Radio - 10/27/203)

Report details trends in Wisconsin poverty

(WisBusiness.com - 10/17/2023)

After questions about use of state funds, budget for Wisconsin Fast Forward workforce development program cut by 16%

(Milwaukee Journal Sentinel - 10/10/2023)

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Equal Employment Opportunity & Affirmative Action Statements

An EEO/AA employer, the University of Wisconsin-Madison Division of Extension provides equal opportunities in employment and programming, including Title VI, Title IX, the Americans with Disabilities Act (ADA) and Section 504 of the Rehabilitation Act requirements. Please make requests for reasonable accommodations to ensure equal access to our educational programs as early as possible preceding the scheduled program, service, or activity.

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