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| Canada’s source of corporate R&D intelligence | ||
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For Immediate Release
Toronto - August 28, 2001 -Alberta companies increased their R&D spending by 16.4% in Fiscal 2000, according to Canada's Top Corporate R&D Spenders Report published by Research Infosource Inc. (www.researchinfosource.com).
The 34 Alberta firms tracked in the report posted revenues of $40 billion in Fiscal 1999, and invested $269 million in R&D. For 2000, revenues increased to over $65 billion and R&D spending grew to $313 million. While revenues grew by 65.1%, R&D expenditures increased by only 16.4%.
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, B.C. firms registered the highest rate of growth at 73.5% while revenues rose by only 24.8%. In Ontario R&D spending kept pace with revenue growth, 29.5% increase in R&D investment for 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%.
"Alberta's R&D spending growth lags significantly behind revenue growth", says Ron Freedman, CEO of Research Infosource Inc. A $26 billion rise in revenues from 1999 to 2000 netted only a $44 million increase in R&D spending."
When Research Infosource released Canada's Top 100 Corporate R&D Spenders List in June, 8 Alberta companies made the Top 100: Nova Chemicals Corporation #26, Biomira Inc.#37, Syncrude Canada Ltd. #41, Westaim Corporation #49, Alberta Energy Company #55, AltaRex Corp #92, TransCanada Pipelines Limited #96, and Petro-Canada #100.
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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