Good News for Innovation Programs
Learning from past downturns, many companies continued their R&D spending during this Great Recession, despite losses in revenues. In fact, 90% of companies in the Global Innovation 1000 study said that Innovation is Critical to Growth.
High growth industries, like Health Care, maintained the highest R&D spending during the economic downturn, while traditional industries, like Chemicals and Energy, spent far less on innovation. Firms that invest in innovation at 5% or greater (relative to sales) realize the greatest growth during and following recessions.
Industrial R&D spending in the United States is expected to increase by 2.85% in 2010, supporting strategic technologies.
(estimated reading time of 5 minutes) |
