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January 30, 2008

Maine making steady R&D progress

Maine companies involved in research and development are growing five times faster than other Maine businesses, according to a new report released yesterday by the state's Office of Innovation.

The report -- the 2008 Maine Innovation Index -- used 25 indicators to measure Maine's performance in innovation-based industries. While Maine excels in some areas, ranking third in nonprofit R&D activity, it still lags the rest of the nation in others, such as ranking 51st in graduate enrollment in science and engineering programs. Overall, the state has increased its rank in total R&D as a percentage of gross state product, moving from 49th in 1997 to 41st in 2004, the latest year for which comparable data is available.

Other findings in the report include that state investment in technology support programs like the Maine Technology Institute and Maine Patent program generated almost 18 times the original investment in new economic activity, and that the average wage paid by R&D companies that responded to a survey was $37,140, 15% higher than the average wage in Maine. The responding firms also reported an overall growth in revenue of nine percent, most coming in from customers out of state.

The full report is available here.

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