UNIVERSITY PARK, Pa. – Penn State's research expenditures climbed to a record high of $848.2 million for the 2012-13 fiscal year, up 5 percent over the previous year, according to Interim Vice President for Research Neil Sharkey. The total included $537.3 million in federal funds, an increase of $30 million from fiscal 2012.
Penn State's total research expenditures have increased by $241 million during the last 10 years, representing a 40 percent increase.
"The steady growth over the past decade means Penn State is widely recognized as a good steward of the resources it has received," Sharkey said. "The public and private sectors have confidence and trust in our faculty and students who are engaged in research and creative work, and in the importance of their work to our society."
He noted that Penn State research is a significant economic driver for Pennsylvania, not only bringing federal dollars to the state but spurring job creation, developing new technologies, and making businesses more competitive. A 2008 study commissioned by the University showed that Penn State research generated nearly $2 billion in annual economic impact.
In addition to federal support, industry and other private sources accounted for $101.0 million of Penn State's total research expenditures in fiscal 2013, state sources $69.1 million, and internal funds, $140.8 million.
Data showing how Penn State's research expenditures in fiscal 2013 compare with those of other universities is not yet available. The most recent published rankings, for fiscal 2011, placed Penn State 15th nationally.