For a second consecutive year, Virginia Tech’s research awards and expenditures have grown by more than 10 percent.
Based on fiscal year 2023 data estimates, federal, state, local, and private research awards grew a combined 17 percent, while research expenditures rose to more than $650 million – a 13 percent increase over last year’s totals. Over a two-year period, awards have seen a 31 percent increase and expenditures a 28 percent increase. Extramural research expenditures account for $415 million of the total number, surpassing the university’s goal in the strategic plan, two years early.
On Monday, the Virginia Tech Board of Visitors was briefed on the status of the university’s diverse research portfolio and contributing factors to its upward trending trajectory.
“Virginia Tech researchers have put the university on an incredible trajectory of growth, leading to our research expenditures surpassing our strategic goal.” said Laurel Miner, assistant vice president and chief of staff in the Office of Research and Innovation. “All of which affects and enhances the university’s overall reputation that will provide opportunities for future growth.”
Miner provided the update to the board on behalf of Senior Vice President for Research and Innovation Dan Sui who was speaking as a panelist at the Times Higher Education Innovation & Impact Summit during the time of the meeting.
Research represents about 90 percent of the sponsored work conducted at Virginia Tech. Awards are a measure of money provided by outside agencies for purposes of innovative research, while expenditures reflect awarded money spent during those projects. Awards outpacing expenditures is a show of confidence in the work being done.
Three research institutes – Fralin Biomedical Research Institute at VTC, the Virginia Tech National Security Institute, and the Virginia Tech Transportation Institute – saw their externally sponsored research expenditures grow by a total of 22.7 percent. Together, they account for more than one quarter of the university’s research expenditures.
