Based on a national study showing that R&D grants to firms significantly boost growth and create jobs
The research was led by Prof Stephen Roper, from the Warwick Business School and director of the Enterprise Research Centre.
This research exploring 15,000 hi-tech firms which received government R&D grants found that
- Grants totalling £8bn led to growth worth £43bn and created around 150,000 jobs.
- Very clear that grants to support R&D have a positive impact, creating jobs and fuelling growth in the hi-tech, high value-added sectors.
- The biggest growth in both employment and turnover occurred among manufacturing firms.
- Significantly larger growth effects in manufacturing than in services and among smaller firms than larger firms.
The polymer sector in Northern Ireland was acknowledged in a recent MATRIX Advisory Panel Report to the Stormont Exectutive as a high value added, advanced manufacturing sector with a key role to play in the ongoing growth and development of the Northern Ireland economy. The polymer sector spans the range from start-up to long established and from micro to large.
For further information see: http://www.bbc.co.uk/news/science-environment-41162534