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Significant economic impact claimed for CRC research

Cooperative Research Centres (CRCs) will have an economic impact worth AU$5.9 billion over the next five years, according to consultants.

This is in addition to the AU$8.6bn contributed to the economy since the programme was launched in 1991, said a report by the Allen Consulting Group released on 16 August.

The impacts were identified from 117 of the 190 CRCs.

The Australian Government has committed more than AU$3.4bn to the programme so far and has announced plans to double collaboration between business, universities and public research agencies in the next decade. It has said it will contribute AU$625 million in the next four years.