Johns Hopkins University Leads in R&D Spending
Schools like Alabama University and Ohio State may be winning it on the football field this year, but Johns Hopkins University is playing a different kind of game and they’re not just winning, they’re crushing it! Johns Hopkins was once again ranked first in research and development spending this year for the 37th consecutive time according to the National Science Foundation, and by the looks of it, it doesn’t seem like they’ll be dethroned anytime soon.
What does it take to be number one? The NSF reported Johns Hopkins allocating a whopping $2.306 billion towards R&D projects this year, primarily in the science and engineering space, resulting in a 2.8 percent increase from the previous year. To put that into some perspective the University of Michigan, ranked second in total R&D spend, only came in at $1.369 billion spending; that’s nearly an $800 million difference from the R&D leader.
$1.995 billion of Johns Hopkins research expenditures were paid through federal agencies. Since 2011, the federal government has been decreasing overall university R&D funding by an estimated 7.1 percent. Despite the decline, the NSF showed Johns Hopkins actually receiving a 2.2 percent increase from the previous year marking them as the top federal backed university in the U.S.
This increase isn’t surprising when accounting for the major return on investments seen consecutively throughout the years. When it comes to making breakthroughs, Johns Hopkins is a machine. In 2015, they produced 112 new patents which has since then increased to upwards of a 153. Through licensing of these patents, Johns Hopkins is raking in some big numbers. In fact, in October of 2015, Immunomic Therapeutics signed a $300 million licensing agreement resulting in the largest deal to ever come out of the university.
It’s clear that Johns Hopkins R&D initiatives are carrying momentum and will continue to do so by heavy federal backing. Their investment in this space is even better complimented by the support given from the Research and Development (R&D) tax credit. By taking advantage of said opportunities, Johns Hopkins University will continue to inspire greater innovation and pave the way for advancement in its respected fields.
If you would like to discuss the R&D Tax Incentive further, please do not hesitate to contact one of Swanson Reed’s offices today.