ACS Policy Priority

Foster Innovation through Research and Technology

Investments in science and engineering have produced more than half of US economic growth since WWII. Strong support for chemistry and other R&D is central to our nation’s productivity, defense, public health, energy security, and environmental progress. Although the engines of innovation are largely in private hands, the federal government provides nearly 60 percent of all support for basic research. This investment fosters new knowledge, industrial innovation, and the training of future scientists and engineers. The US Bureau of Economic Affairs has estimated that R&D investment accounted for seven percent of US GDP growth between 1995 and 2004. Government also plays a key role in fostering a healthy climate for innovation through tax policy, international standards, intellectual property, and other incentives. ACS supports efforts to

• Increase and optimize federal investments in R&D, science infrastructure, and industrial innovation to enhance US global competitiveness.
• Speed up the development and commercialization of new technologies that promote energy independence, environmental sustainability, national and homeland security, human health, and other national goals.
• Promote incentives and reduce economic, regulatory, and intellectual property barriers to the development of new technologies.
• Foster the development and adoption of green products and processes by industry, academia, and government.