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20/11/2014
2013 Sees Record Spend On R&D
2013 saw the highest ever spend on research and development (R&D) in Northern Ireland, according to the Department of Enterprise, Trade and Investment.
Total R&D investment was up by 3% from £624m in 2012 to £645m in 2013, in cash terms. This amounted to a 2% increase in real terms.
Over the year, total Business R&D expenditure increased in cash terms by £21m (4%) to £482m. There was also an increase of £1m (5%) in government expenditure to £16m.
Enterprise, Trade and Investment Minister Arlene Foster said: "In an increasingly globalised world investment in research and development is essential in boosting economic competitiveness.
"It has been shown companies who innovate are more productive, employ more staff, and have a greater propensity to export. This is why the Northern Ireland Executive has placed innovation at the centre of efforts to grow a globally competitive economy."
Locally owned companies showed a 16% increase in R&D expenditure (£17m). R&D expenditure by externally-owned companies increased 1%, accounting for 75% (£363m) of all Business R&D expenditure.
Total R&D for SMEs increased by £m (1%) from 2012 to £174m in 2013, in cash terms. The department said R&D expenditure has risen 64% since 2008.
(IT/JP)
Total R&D investment was up by 3% from £624m in 2012 to £645m in 2013, in cash terms. This amounted to a 2% increase in real terms.
Over the year, total Business R&D expenditure increased in cash terms by £21m (4%) to £482m. There was also an increase of £1m (5%) in government expenditure to £16m.
Enterprise, Trade and Investment Minister Arlene Foster said: "In an increasingly globalised world investment in research and development is essential in boosting economic competitiveness.
"It has been shown companies who innovate are more productive, employ more staff, and have a greater propensity to export. This is why the Northern Ireland Executive has placed innovation at the centre of efforts to grow a globally competitive economy."
Locally owned companies showed a 16% increase in R&D expenditure (£17m). R&D expenditure by externally-owned companies increased 1%, accounting for 75% (£363m) of all Business R&D expenditure.
Total R&D for SMEs increased by £m (1%) from 2012 to £174m in 2013, in cash terms. The department said R&D expenditure has risen 64% since 2008.
(IT/JP)
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