From the course: Construction Technology: Industry Snapshot

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Research and development

Research and development

From the course: Construction Technology: Industry Snapshot

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Research and development

- R&D. What does that mean to you? Is it just a tax credit? Research and development. Now, I've seen many companies really mistake what categorizes as R&D on a tax credit application for true research and development. So let's talk through that. First, on our annual survey we actually asked companies, "What percentage of your budget do you allocate "towards research and development?" 2015, only 32% of companies had an R&D budget. I'm happy to say one year later, 42. We saw a 10% uptick in companies that had some type of dedicated budget or staff for research and development. Just to understand where the majority of this research and development activity was going on, we took a look at sales volume versus presence of R&D department and found it wasn't until $200 million in revenue or building volume that we saw the presence of an R&D department break 50%. Once we got to 500 million, it hit almost 2/3 of the company. Then we looked at number of employees and saw the exact same thing…

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