CRIs Boost Overseas Income
4 November 2001
CRIs Boost Overseas Income From Global Knowledge Economy
The nation’s largest providers of science research, the nine Crown Research Institutes, almost doubled their export income in the year ended 30 June 2001 as they achieved record revenues of more than $482.6 million.
The revenue improved more than $26 million on the previous year, with export growth (from $23 million in the 1999/00 year to $43 million in the 2000/01year) accounting for $20 million of the increase.
Shareholder funds increased $19 million to $320.8 million. The net profit after tax declined (from $26 million to $22.8 million) largely due to significant re-investment in new technologies and equipment which will deliver income benefits in later years.
Commercial revenue (as opposed to government funding) rose by $26 million to $230.3 million. Government funding stayed almost unchanged at $252.3 million. Staff numbers rose by 100 to 3964 (FTE).
The annual reports of all nine CRIs have now been tabled in Parliament. The CRIs provide science and commercialised research in the industrial, environmental, agricultural, horticultural and forestry sectors, as well as water and atmospheric research.
The President of the Association of Crown Research Institutes, Dr John Hay, commented:
“The significant increase in overseas income demonstrates that New Zealand science has both the ability and the credibility to generate healthy returns to the nation.
“The annual reports of the CRIs tell only part of the story of the immense contribution we make everyday to New Zealand Inc, national innovation and better living.
“The financial or environmental benefits can be seen in the increased financial health of industry sectors and of the environment of local communities.
HortResearch contributed significantly
to growth of $200 million in the value of New Zealand’s
horticultural exports in the 2000-01 year to a record $1.9
Exports of baked goods, such as frozen pastries and roux sauces, have more than doubled to approximately $100 million in large part because of research by Crop and Food on quality improvement and product specifications.
The work by Landcare Research to help businesses offset the environmental impact of greenhouse gas emissions will have ongoing benefits to the nation.
“CRIs are pivotal in the development of New Zealand’s knowledge economy. We must continue to invest in the capabilities of our people, attract and retain the best, and provide the right facilities and environment to encourage world class research.
“The significant re-investment by CRIs in new technologies and equipment will deliver income benefits in later years. It enables CRIs to better meet the developing needs of New Zealand’s business and environmental sectors.
“CRIs also remain committed to the continued provision of blue-skies research, to encourage discovery and innovation outside the existing boundaries of scientific knowledge.”