Universities' Research Expenditures Up 43% Since 2019

By Jay Waagmeester, Florida Phoenix

March 19, 2026

Florida’s state universities collected $3.24 billion in research funds in 2024-2025, an increase from $2.26 billion in 2019-2020.

That number has steadily climbed. Universities plan to invest $3.75 billion by 2030, as pictured in a state report.

Of that more than $3 billion, nearly half was federal research funding. Another $82 million was from business and industry support.

According to the Board of Governors and National Science Foundation Higher Education Research & Development, the University of Florida ranked 15th in the nation for research expenditures in fiscal year 2024.

UF was followed by:

As a whole, the state system ranks fifth nationally, according to documents released in advance of the Board of Governors meeting next week.

Since 2021, research expenditures at FSU have grown by $111 million (from $350 million to $461 million).

The board plans to discuss research rankings and goals during its two-day meeting in Pensacola next week, including measuring the return on investment of research and best practices on commercializing research.

Nationwide, the federal government reports universities conducted $117.7 billion in research in fiscal year 2024. That was an increase of 8.1%, or $8.9 billion, since fiscal year 2023.

Some of the universities above UF include Harvard, New York University, Georgia Institute of Technology, Duke University, Ohio State University, University of Michigan, University of Pennsylvania, and with the most nationwide was Johns Hopkins University.

The data, encompassing the 2024 fiscal year, originated before President Donald Trump started a nationwide effort to slash research projects through federal programs.

While much of the research Trump cut or hoped to cut was later restored, the uncertainty among researchers and universities still looms.

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