Efforts underway in the states to capitalize on CHIPS funding
With President Biden’s signing the CHIPS and Science Act on Aug. 9, states and universities are already making plans to build on the funding opportunities present in the legislation.
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Useful Stats: State-level higher education R&D trends
This article was edited on April 19th, 2023, to correct for an error in the original data analysis.
Fiscal Year (FY) 2021 saw higher education research and development (R&D) spending increase by a total of $3.43 billion (3.97%) over the prior year — a higher rate of growth than the 10-year average of +3.53% per year — and $23.99 billion (36.51%) over the past 10-years. Using data from the most recent release of the Higher Education Research and Development (HERD) survey, this article will analyze state-level trends on higher education R&D expenditures, revealing the aforementioned increased expenditures, although strong, are barely keeping pace with the nation’s overall economic growth.
NASBO reports a 9.3% increase in state fund higher education spending between fiscal 2021 and 2022
In addition to last week’s Digest story on all state expenditures, the National Association of State Budget Officers’ (NASBO) 2022 State Expenditures Report detailed information on higher education expenditures, finding a 9.4% increase (from $225 to $247 billion) in total higher education expenditures ov