Battelle Forecasts 3.5% Increase for 2002 R&D Funding
Total R&D expenditures in the U.S. are expected to increase about 3.5% to $285.6 billion in 2002, according to the annual Battelle-"R&D Magazine" research and development forecast. Three significant factors, including the change in presidential administration, the faltering economy, and the events and aftermath of the September 11 terrorist attacks, have combined to exert influence on the state of R&D funding for the upcoming year. According to the forecast, the federal government is expected to spend $75.5 billion on R&D in 2002, which is a 4.7% increase over the prior year. Industry continues to lead in the number of dollars funding R&D, with nearly $195 billion expected in 2002 spending, a 3.2% increase. The forecast also foresees academia and non-profit R&D spending increasing about 3% over the prior year, to $15.4 billion.
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