According to a recent study published by the National Science Foundation (NSF), businesses spent more on research and development (R&D) in 2011 than they did in 2010.
Companies spent $294 billion on R&D performed in the United States during 2011, compared with $279 billion during 2010. Data are from the Business and R&D and Innovation Survey (BRDIS), which is co-sponsored by NSF and the U.S. Census Bureau.
BRDIS revealed that during 2011, companies in manufacturing industries performed $201 billion, or 68 percent, of domestic R&D. Companies in nonmanufacturing industries performed $93 billion of domestic R&D. For both types of industries, most of the funding came from the companies' own funds, about 81 percent.
The U.S. federal government was the chief source of outside funding for R&D across all industries. Of the $55 billion paid for by others, the federal government contributed $31 billion. The majority of this government funding, $26 billion, came from the Department of Defense.
U.S. companies that performed or funded R&D reported domestic net sales of $9 trillion in 2011, according to BRDIS. Manufacturing industries with high levels of R&D intensity in 2011 were pharmaceuticals and medicines, aerospace products and parts, and computer and electronic products.
Explore further: New statistics on business innovation released by NSF