Penn State’s research expenditures hit a record high of $927 million in fiscal year 2017-18, according to a university press release.
That’s up $64 million over last year’s figure, according to Penn State. A record $562 million in federal funds, as well as $365 million from private funders, the state and university sources, helped the university reach new heights.
“Our record funding level reflects the hard work and ingenuity of our world-class faculty, students, staff as well as a renewed enthusiasm in Washington for federally supported research and development,” Penn State Vice President for Research Neil Sharkey said in the release.
The university saw an increase of 14 percent in defense-related funding and an 11 percent increase in funding from industry, foundations and other sponsors.
“Our defense funding levels demonstrate the continuing confidence the Department of Defense has in our research, a partnership of trust that has been decades in the making,” Sharkey said. “The jump in private funding shows how much effort we’ve been putting into translating our work into real-world impacts and supporting the private sector.”
Almost 21 percent of total expenditures, $191 million, come from the university’s own investment in research for the public good, according to the press release.