R&D Growth In Higher Education
A report focused on federal R&D funding for higher education, published by the National Center for Science and Engineering Statistics (NCSES), shows that 2016 is the fourth consecutive year in which federal R&D funding has decreased since its peak in 2011.
As of 2015 universities reported a 2.2% increase from the previous year at $68.8 billion in R&D spending. The data was collected from 906 degree-granting institutions that has spent a minimum of $150,000 the year prior.
Since 2011, where federal funding supported 62.5% of higher education R&D costs, R&D funding has declined by 13%. A decline in funding of 1.7% was recorded between 2014 and 2015. Of the $68.8 billion spent during 2015, federal funding covered only $37.9 billion dropping the percentage of funding to 55.2%.
While federal funding has decreased, research has continued to grow by 2.2% from the previous year with additional funding from other sources at 6.4%. Medical science was reported to have supported the highest growth rate spending $21.3 billion while biological and engineering sciences floated around $11 billion.
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.
