Firms spend less on research, development

IRISH-based companies have spent less on research and development during 2010 than in previous years, but this segment of investment has still fared better than expected.

Estimates of expected expenditure in 2010 indicate that the research and development spend will be just over €1.7bn.

This compares with an investment of almost €1.9bn on R&D activities in 2009 almost €1.9bn invested by enterprises across all business sectors in Ireland.