A group of industry analysts finds the US forest products industry has fallen far behind in producing new things out of wood.
“Many traditional forest product markets have matured or declined,” the US Endowment for Forestry and Communities report stated. “Yet the sector’s research and development funding — essential to innovation — has fallen and its R&D capacity has withered.”
The report, released on Oct. 6, found the wood products sector invested just six-tenths of a percent of its sales revenue toward research and development, while the US manufacturing sector average was six times as much. Specific industries like biomedicine spend 12 percent or more. read more >>