The annual report of industrial development advisory body Forfás says investment in research and development rose by 7.3% last year compared with 2004. The total spent on R&D was €1.9 billion.
Forfás said the main factor was a 23.5% jump in spending in the higher education sector to €492m. The agency also said there were indications that spending in the business sector had regained momentum.
The 2005 report shows that employment in companies backed by IDA Ireland, Enterprise Ireland, Shannon Development and Udarás na Gaeltachta amounted to 298,372 last year, an increase of 2,879. Corporation tax payments were €5.5 billion, with firms backed by State agencies accounting for half of this.
Forfás says there has been a shift in the profile of business, with growth in jobs and exports in the more modern sectors of medical devices, pharmaceuticals, life sciences, financial services and software.
