News from industry

Of a total of $32.5 billion to be spent for R&D in the U.S. in 1974, compared to an estimated $30.1 billion in 1973, industry itself will fund $13.7 billion while performing about 68 percent of all research. According to the annual R&D forecast of the Battelle-Columbus Laboratories, Columbus, Ohio, industry is one of the fastest growing sources of R&D support. But the U.S. Government continues to be the big spender: $16.8 billion in 1974. Colleges and universities will spend about $1.5 billion and other not-for-profit institutions, such as Battelle, will spend $480 million. The four major industry groups that are expected to increase their R&D funding in 1974 at a rate greater than the rate of inflation are: instruments and related products, food and kindred products, chemicals, and electric machinery.