CT among top 10 states in research and development spending

Connecticut ranks among the 10 states with the highest spending on research and development, according to a new report from the U.S. Bureau of Economic Analysis. BEA findings show that in 2021, the state spent 2.7% of its GDP on research and development activities. This figure represents spending of more than $7.9 billion, an increase of 22% from the previous year and 44% from 2017.

And most of that money was spent on production.

In the state, businesses accounted for 92% of R&D value added, with universities and colleges accounting for 5% and 3% for state and local governments. The state’s manufacturing sector was responsible for $3.67 billion in research and development activity in 2021, almost half of the total amount spent.

“This is good news and why I like to visit producers often to learn about the exciting work they are doing to drive our economy,” controller Sean Scanlon said in a post on the X social media platform.

Research and development employment in Connecticut increased 24% in 2021 to 39,800, representing 2.4% of all nonfarm jobs in the state that year. Manufacturing jobs employed 17,800 people – 45% of all R&D employment – ​​and the number of jobs in the sector increased by 55% year-on-year.

CBIA President and CEO Chris DiPentima said research and development activities are critical to driving innovation in high-growth industries, especially the aerospace and life sciences sectors. High-tech manufacturing fields continue to lead the way in innovation through research and development.

“Legislators must continue to implement policies that support and promote investment in research and development across all sectors,” DiPentima said.

Stephen Underwood can be reached at [email protected]