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This paper presents the costs and the associated added value and profit for a selection of concrete research and development (R&D) programmes in Norway during 1980–2000. The estimated figures give a ratio of added value, or return on investments, to costs equal to 19. This ratio is remarkably high and demonstrates that industry based R&D can be a profitable investment. The major beneficiaries of the added value are the clients of the industry and society, through reduced costs and better products and solutions.

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