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| Canada’s source of corporate R&D intelligence | ||
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For Immediate Release
Toronto - August 28, 2001 - British Columbia companies experienced the highest rate of R&D spending growth in Fiscal 2000, a jump of 73.5% over 1999, according to Canada's Top Corporate R&D Spenders Report published by Research Infosource Inc. (www.researchinfosource.com).
The 53 B.C. firms tracked in the report posted revenues of $11.9 billion in Fiscal 1999, and invested $399 million in R&D. For 2000, revenues increased to $14.8 billion and R&D spending grew to $692 million. While revenues grew by 24.8%, R&D expenditures rose a dramatic 73.5%.
Overall, Canadian firms increased their R&D spending from $9.3 billion in 1999 to $11.9 billion in 2000. This is a 27.8% increase for the 330 companies tracked in the report.
Looking at R&D growth from 1999 to 2000 by province, Alberta companies' R&D growth of 16.4% lags far behind its revenue growth of 65.1%. In Ontario R&D spending kept pace with revenue growth, 29.5% increase in R&D investment and a 25.7% jump in revenue. R&D spending growth in Québec trails revenue. Québec firms posted a 17.7% growth in revenue and increased R&D outlays by 8.7%.
When Research Infosource released Canada's Top 100 Corporate R&D Spenders List in June, 3 B.C. companies (Ballard Power Systems, Stressgen Biotechnologies and QLT Inc). were among the Top 10 Research Intensive Companies. Looking at the Top 100, B.C. firms had the highest overall research intensity ratio (R&D spending as a percent of revenues) of 15.4% in Fiscal 2000 compared to other regions. While revenues grew by 43.4%, B.C. Top 100 firms upped their R&D spending by over 80%.
"B.C. is bucking the trend", says Ron Freedman, CEO of Research Infosource Inc. "In other provinces, R&D growth either kept pace with revenue growth or lagged behind it, for the 53 B.C. firms in the report increases in R&D spending were almost three times revenue growth.
Research Infosource Inc. a division of The Impact Group, tracks the R&D activities of the leading companies in Canada through its Canadian Corporate R&D Database, which contains information on over 300 firms. The complete Canada's Top Corporate R&D Spenders Report is available for purchase at www.researchinfosource.com.
The Impact Group is one of Canada's leading consulting firms specializing in strategic planning, policy analysis & development, research & evaluation, communications & marketing, and training & education, for organizations concerned with science, technology, and innovation.
Information: Ron Freedman, CEO, Research Infosource Inc.(416) 481-7070 ext. 31 |
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