U.S. Business R&D Spending Reaches $765 Billion
The 2024 national survey tracks research and development investments across over one million domestic companies.
Updated on Oct. 29, 2026 in Economic Indicators
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Business research and development spending in the United States totaled $765 billion in 2024. The findings are based on a comprehensive survey of companies operating across the country.
Why it matters
Understanding the scale of private-sector innovation investment provides a clearer picture of the financial resources dedicated to technological and commercial advancement. This data reflects the broader scope of industrial research activities within the national economy.
The 2024 survey sampled 45,500 companies to represent 1,171,000 firms, with 42,500 reporting units remaining in scope. The report recorded a 66% complete response rate for the period.
The players
National Center for Science and Engineering Statistics
This federal statistical agency provides data on the science and engineering enterprise in the United States.
United States Census Bureau
This primary agency of the U.S. Federal Statistical System is responsible for producing data about the American people and economy.
The details
The Business Enterprise Research and Development Survey, conducted by the National Center for Science and Engineering Statistics and the Census Bureau, required a minimum expenditure of $50,000 for inclusion. Industry classification for the study was determined by the dominant business activity performed domestically.
Timeline
In 2023, the survey sampled 46,000 companies.
Business R&D spending reached $765 billion in 2024.
Macro View
The Business Enterprise Research and Development Survey provides a historical baseline that allows economists to track shifts in domestic innovation funding over time. This data acts as a standard metric for comparing current economic cycles against previous periods of industrial growth.
These figures offer insight into the capital-intensive sectors driving the labor market and potential future product development. Understanding these trends helps identify which industries are prioritizing long-term growth and potential hiring needs.
The takeaway
Large-scale R&D investment remains a primary driver of industrial competitive advantage within the U.S. economy. Readers monitoring the job market should consider how sectors with high research spending may offer more stability or growth potential.
Further reading
For more information on national fiscal health, visit the Economic Indicators section.
More information
View the comprehensive BERD Survey data tables for additional analysis.
Source note: This article includes information reported by Nsf.
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