ECOOM, the expertise center for research and development (R&D) monitoring, has published a note confirming the leading position of Flanders in R&D investments. With 2.69% of its gross domestic product (GDP) spent on R&D in 2015, Flanders rises far above the European average. The region follows the European 2020 strategy, which sets forth goal of 3% of a country’s GDP invested in R&D by 2020. Steadily growing its R&D investment amount each year, Flanders is getting closer to attaining the 3% goal.
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Flanders tops the class in R&D investments
Flanders is getting close to meeting the 3% objective of the European 2020 strategy, spending up to 2.69% of its GDP on R&D. The region thereby establishes itself as a frontrunner in all things innovation.
In addition to this dedication of Flanders’ government to invest in innovation, many other incentives make Flanders a hotspot for R&D activities. Not only does the region offer companies access to significant subsidies and grants, but also to a range of tax incentives that help businesses innovate. These include the innovation income deduction, specific tax credits for R&D investments and the R&D payroll tax incentive.