NEC Joins 250+ Business and Higher Ed Leaders in Call to Action for American “Innovation Imperative”
Action follows American Academy of Arts & Sciences report, Restoring the Foundation: The Vital Role of Research in Preserving the American Dream
On June 23, 2015, The New England Council joined scores of other organizations as well as leaders of American business, industry, higher education, science, and engineering in an urgent call to action for stronger federal policies and investment to drive domestic research and development. Ten CEOs and 252 organizations signed “Innovation: An American Imperative,” a document aimed at federal decision makers and legislators. It underscores the findings—and warnings—contained in The American Academy of Arts & Sciences report, Restoring the Foundation: The Vital Role of Research in Preserving the American Dream.
According to Restoring the Foundation, “There is a deficit between what America is investing and what it should be investing to remain competitive, not only in research but in innovation and job creation.” The United States is failing to keep pace with competitor nations with regard to investments in basic research and development. America’s ascendency in the 20th century was due in large part—if not primarily—to its investments in science and engineering research. Basic research is behind every new product brought to market, every new medical device or drug, every new defense and space technology and many innovative business practices.
Over the last two decades, a steady decline in investment in research & development (R&D) in the United States has allowed our nation to fall to 10th place in R&D investment among Organisation for Economic Co-operation and development (OECD) nations as a percentage of gross domestic product (GDP).
At this pace, China will surpass the United States in R&D intensity in about eight years.
These developments led a diverse coalition of those concerned with the future of research in America to join together in presenting the Innovation Imperative to federal policy makers. The recommendations presented in the Innovation Imperative align with many of The New England Council’s top policy priorities in recent years. Specifically, the Innovation Imperative calls on federal leaders to take action to:
End sequestration’s deep cuts to federal investments in R&D
• Make permanent a strengthened federal R&D tax credit
• Improve student achievement in science, technology, engineering, mathematics (STEM)
• Reform U.S. visa policy
• Streamline or eliminate costly and inefficient regulations
• Reaffirm merit-based peer review
• Stimulate further improvements in advanced manufacturing
The following New England Council members have also signed on to the Innovation Imperative: Boston University, Google, Harvard University, IBM, Massachusetts Institute of Technology, Microsoft, Northeastern University, Procter & Gamble, Tufts University, and the University of New Hampshire.
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