Surge in R&D Spending Burnishes U.S. Image as Innovation Nation

Companies in the U.S. are again putting money where their competitive advantage lies: in uncovering the products that will one day change how you work and play.

Corporate spending on research and development rose 6.7 percent in 2014, almost twice the previous year’s gain and the biggest advance since 1996, according to Commerce Department data. The pickup was capped by a 14 percent fourth-quarter surge that signals additional increases are on the way.