Irish firms spend €2bn on R&D

Irish companies are spending €2bn a year on research and development (R&D) activities, according to the latest CSO data.

Updated data from the statistical agency shows that Irish-based enterprises — across all business sectors — spent nearly €1.9bn on in-house R&D activity during 2011, but still less than the EU average.

This was on a par with 2010 levels, and indications are that the levels increased to around €2bn last year. However, final figures for 2012 won’t be available until next year.