Tech & Innovation Spending Show Corporations Are Recovering
Despite cutting back on spending, big corporations actually expanded their R&D budgets by 5.7% in 2008, reports The New York Times. It’s only half as much as the increase in 2007, 
but it hints that research spending is one of the last things on the corporate chopping block and that the economic slowdown might not stymie innovation as much as conventional wisdom suggests.
The Booz & Company study, which surveyed 1,000 of the country’s biggest corporations, also found that 70% of those companies intended to keep growing their R&D budgets in 2009. Calling innovation spending “an arms race,” Booz researchers noted that while some sectors (namely automotive) spent conservatively, tech sector companies went for broke. “Eight of the top 10 R&D spenders in the software and Internet sector, the study said, increased their spending,” NYTimes.com reports. Read full story:
