Western Australian businesses have funnelled more money into research and development as the need to remain competitive increases.
R&D investment rose 9 per cent – or $265 million – over 2010-11, with miners and manufacturers accounting for most of the increased spending.
The state’s total investment in R&D reached $3.2 billion over the year but is still down on the $3.6 billion spent before the GFC.
Australia’s total R&D spending amounted to $17.9 billion in 2010-11.
WA came in behind only New South Wales, which spent $6.3 billion, and Victoria, which spent just over $4 billion.
But WA had the second-largest increase of any state in R&D spend and its proportion of Australia’s total expenditure remained the same at 18 per cent.
The figures indicate businesses have maintained a focus on R&D and its potential to help companies remain competitive in difficult economic conditions.
Perth-based Matrix Engineering for one has retained its dedication to spending 50 per cent of total expenditure on R&D, which it says is vital to the success of the business.
