The University of Utah has announced that its research funding reached $691 million in fiscal year 2024 (FY24), which concluded June 30, 2024.
The funding achievement marks the fifth consecutive year the university has secured funding levels exceeding $600 million. The year’s total continues the impressive trend established by previous milestones of $600 million in 2020 and $500 million in 2018.
As a member of the prestigious Association of American Universities, the U is known for its broad spectrum of disciplines and studies. The fiscal year’s funding supports groundbreaking initiatives from multiple fields, including energy research, rural healthcare, environmental studies, artificial intelligence, cancer treatment, mental health support, technological innovation, and more.
“The University of Utah’s status as an R1 institution reflects our extensive portfolio, which spans from creative arts and healthcare to air quality and the Great Salt Lake,” said Erin Rothwell, vice president for research at the University of Utah. “As the state’s flagship university, we strive to tackle critical research needs and solutions that benefit Utahns and communities across the state.”
Research funding by the numbers
In total, U researchers were awarded more than 2,600 grants in FY24. The federal government remains the primary source of this funding, contributing 65% of the total research portfolio, with industry accounting for 14% and 8% from partner universities. Of the $691 million in research funding, $489 million was provided by federal sponsors including the National Institutes of Health, National Science Foundation, Department of Energy, Veteran Affairs, state governmententities, and other key agencies.
U research impacts society’s most pressing challenges and issues
Through award funding, the university’s research community is implementing meaningful advancements that make a real-world impact. The dollars behind the achievement will support critical studies to develop new treatments and prevention for addiction, chronic pain, and depression. Additionally, the funding is advancing research aimed at safeguarding power grids and electricity during extreme weather events, improving maternal health care and reducing pregnancy-related deaths, and enhancing memory and cognition for those suffering fromneurological disorders, such as Alzheimer’s disease. The university’s research funding from sponsors is crucial for finding solutions to both local and global challenges.
U research is a major economic engine for the state of Utah
In pursuit of impactful solutions for society, the U’s research activities extend beyond academic advancement. U research is also a major catalyst for economic development and growth within the state. In FY24, more than 7,500 university employees were compensated through research dollars, which have contributed more than $850 million in wages over the past four years.
In addition to supporting jobs, the U’s research expenditures totaled $33 million in Utah, supporting numerous vendors and local businesses within the state and $155 million across the U.S.
“The University of Utah is committed to leading in research, discovery, and innovation that transform lives and drive economic growth,” said Taylor Randall, president of the university. “Our FY24 funding milestone reflects the dedication of our researchers, students, and staff tackling today’s most pressing challenges. Together, we are advancing knowledge, strengthening Utah’s economy, and enhancing the quality of life in our communities and beyond.”