 |
||
 |
||
| Canada’s source of corporate R&D intelligence | ||
|
For Immediate Release
Toronto - August 28, 2001 -Ontario companies increased their R&D spending by 29.5% in Fiscal 2000, according to Canada's Top Corporate R&D Spenders Report published by Research Infosource Inc. (www.researchinfosource.com).
The 157 Ontario-headquartered firms tracked in the report posted revenues of $126 billion in 1999 and invested $7.2 billion in R&D. For 2000, revenues increased to over $158 billion and R&D spending grew to 9.3 billion. While revenues grew by 25.7%, R&D expenditures increased by 29.5%.
Overall, Canadian firms increased their R&D spending from $9.3 million 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%. Alberta's R&D growth of 16.4% lags far behind its revenue growth of 65.1%. R&D spending growth in Québec also trails revenue. Quebec firms posted a 17.7% growth in revenue and increased R&D outlays by 8.7%.
"Ontario is home to 61 of Canada's 100 Top Corporate R&D Spenders, including Nortel Networks, and together, these firms control 80% of Top 100 R&D spending, says Ron Freedman, CEO of Research Infosource Inc. "Currently, R&D spending is keeping pace with revenue in the province. Our 2001 data will show the effect of the losses in Ontario's IT clusters."
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 |
||