State Government Agencies’ Expenditures for R&D Total $3.0 Billion in FY 2023, an Increase of 14% from FY 2022.
Analysis

State Government Agencies’ Expenditures for R&D Total $3.0 Billion in FY 2023, an Increase of 14% from FY 2022

November 13, 2024
State government agencies' expenditures for both research and experimental development (R&D) and R&D plant totaled $3.1 billion in FY 2023, up over 14% from FY 2022. R&D plant accounted for just 1.1% ($34 million) of this total; R&D expenditures made up the remaining 98.9% ($3.0 billion).

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