BLACKSBURG, Va., May 30, 2012 – Virginia Tech research expenditures for the fiscal year that ended June 30, 2011, rose to $450 million, a 13.03 percent increase from the $398 million reported in fiscal year 2010.
The increase represents the largest dollar growth and the second-largest percentage rise during the past nine years, according to Ken Miller, university controller.
“The increase in research funding that’s so vital to Virginia Tech’s efforts to improve the lives of people around the world is a testament to the dedication of the entire university community,” said Robert Walters, vice president of research. “It was an excellent year in expenditure growth.”
In addition, the Research Division reported that Virginia Tech’s research expenditure ranking for 2010 fell from 44th in 2009 to 47th. Rankings for expenditures typically lag a year behind reporting of the expenditures, so the ranking for 2011 is not yet known.
“The positive news is that Virginia Tech remained in the top 50 of national research universities despite only a small increase [about $2 million] in revenue from 2009 to 2010,” Walters said.
The largest growth in the 2011 figures – $26.6 million – came from federal sources, which was partly due to temporary federal stimulus funding that will be fully expended by the end of 2013. University support rose 16 percent while other commonwealth funding dropped dramatically. Industry and business support rose 7.1 percent to almost $22.8 million.
Dedicated to its motto, Ut Prosim (That I May Serve), Virginia Tech takes a hands-on, engaging approach to education, preparing scholars to be leaders in their fields and communities. As the commonwealth’s most comprehensive university and its leading research institution, Virginia Tech offers 225 undergraduate and graduate degree programs to more than 31,000 students and manages a research portfolio of $496 million. The university fulfills its land-grant mission of transforming knowledge to practice through technological leadership and by fueling economic growth and job creation locally, regionally, and across Virginia.
University Editor Richard Lovegrove wrote this story.