U., USU a successful research team
2 schools raised $500 million in funding this year
The University of Utah and Utah State University have raised almost $500 million in research funds over the past fiscal year, a fact state officials are seeing more and more as a huge economic boon for the state.
And that number is expected to continue rising as both state schools act as one to beat out other schools across the nation for coveted research monies.
"I think we can add one and one and get more than two," Lt. Gov. Gayle McKeachnie said.
Gov. Olene Walker will hold a press conference Thursday to congratulate the two schools and talk about their efforts to join forces on certain research projects in the hopes of attracting even more federal and private dollars to Utah.
Ultimately, the goal is to see both schools turn ideas or research developed on their campuses into companies that hire Utahns and produce products people want and need.
It's an issue that will pop up at ballot boxes this fall.
Voters here will decide in November whether to amend the state constitution to allow the U. and USU to benefit financially from the transfer of technology developed on their campuses to the marketplace.
State leaders also see this as a chance to help out the two schools as they collaborate on research projects.
"Many states are doing this very thing," said McKeachnie, who is also the chair of the USU Board of Trustees. "They've figured out that this is where growth is taking place in their economy."
Whether it means more state funding for some kind of a USU/U. research initiative remains to be seen. In the meantime, the two schools are doing their part to raise money on their own.
The U. broke its own record by raising more than $300 million in grants, fellowships and financial aid for fiscal 2003, which ended June 30. None of that money came from state tax funds and most was from federal sources.
At $186 million, USU increased its competitive research dollars raised by $36 million from fiscal 2002 to fiscal 2003.
Those numbers are significant, said USU President Kermit Hall, because they underscore a time of economic struggle in Utah when the U. and USU have been able to keep research programs up and going without asking for additional state tax dollars.
"This is all coming out of what we're able to generate on the federal grant side of things," Hall said.
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