Increase in Spending on Research and Development Welcomed

Nov 17, 2016

Economy Minister Simon Hamilton MLA has welcomed an increase in spending on Research and Development by Northern Ireland businesses.

The Minister was commenting as the 2015 Research and Development Survey was published.

"With some 90% of the latest increase in R&D expenditure coming from business in the private sector, I think we can feel confident that we are heading in the right direction.”

Simon Hamilton said: “I am very encouraged by these latest figures. Investment in research and development is critical to future economic growth. With expenditure up by 24% on 2014 and the number of companies, particularly indigenous companies, spending on R&D increasing from 659 to 714, this is definitely a move in the right direction and something I want to further encourage." 

The Minister continued: “We are only at the start of our journey having come through the downturn and made significant strides forward in re-balancing our economy. Innovation in all its forms is central to this journey and with some 90% of the latest increase in R&D expenditure coming from business in the private sector, I think we can feel confident that we are heading in the right direction.”

The 2015 Research and Development Survey is available here

 

Share this Article

Sign up for News

 Enter Code

Latest Features

How new technology is changing the way customers shop
Nick Martin, e-Business Advisor
Feb 16, 2018
Firms start 2018 on a positive footing
David Roberts, Invest NI Economist
Feb 15, 2018
Opportunities await in the land Down Under
Peter Hendrikssen Regional Manager, Australia & New Zealand
Feb 14, 2018
Giving companies a head start with our Business Information Centre
Mandy Mills, Business Information Centre Manager
Feb 13, 2018
Northern Ireland is the top UK region for supply chain excellence
Helen Smyth, PR & Media Relations
Feb 02, 2018
Why should a business pay more on its energy bills unnecessarily?
Helen Smyth, PR & Media Relations
Jan 30, 2018