Spending on U-M research hits $1 billion for 1st time

Thursday, September 17, 2009 | Source: Concentrate

The University of Michigan hit a big milestone this week when it surpassed $1 billion in research funding for this year.

Excerpt:

The University of Michigan has hit the $1 billion mark for research funding this year for the first time.

Research spending is up 9.4 percent over last year for a total of $1.02 billion. About two thirds of that money comes from federal funding, which is also up 7.1 percent from the previous year. These numbers cement U-M as one of the premier economic engines in Metro Detroit, Michigan, and even the Midwest region.

"That number ($1 billion) represents hundreds of faculty and students who are very entrepreneurial," says Marvin Parnes, associated vice president of research for the University of Michigan.

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