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Austria continues to drive research and development

Test tubes with coloured liquid © photocase.com/lio

© photocase.com/lio

20. May 2009

R&D will account for 2.73% of GDP in 2009. A major share of Austria’s research and development is driven by the private sector – this includes international companies who invest in research and development in Austria.

Austria is increasing expenditure on research and development (R&D) in 2009 by 1.8% on 2008. This means that research accounts for 2.73% of gross domestic product (GDP). A total EUR 7.625 billion will go into research. The largest share of research funding, namely 45%, will be financed by the Austrian economy itself, 39.9% comes from the public sector and 14.8% is from foreign financing.

US pharmaceutical giant Baxter is an example of how a foreign company invests in the Austrian R&D sector. Last year alone, Baxter invested USD 225 million in its Austrian sites, representing 75% of the group’s research budget. As a subsidiary of Baxter International Inc., Baxter-Austria, with branch offices in Vienna and Orth an der Donau (Lower Austria), has developed into the group’s largest location in Europe and also the most important site for the business field of BioScience. Baxter’s Austrian R&D department focuses on developing and producing biotech and biopharmaceutical medicines and treatments.

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