In fiscal year 2023, The Ohio State University set a new record in its annual research and development expenditures, reaching $1.449 billion, marking a 6% increase from the previous fiscal year's $1.36 billion. This achievement was celebrated by the university's Board of Trustees, highlighting the institution's commitment to advancing cutting-edge science and creative expression research. In collaboration with the university's colleges, the Enterprise for Research, Innovation and Knowledge (ERIK) oversees the tracking of these funds, underscoring Ohio State's role in leading scientific innovation and its impact on both state and global scales.

President Walter "Ted" Carter Jr. emphasized the university's significant contributions, echoed during the Research, Innovation and Strategic Partnerships board committee meeting, with achievements such as the Nobel Laureate recognition of Ohio State's physicist, Pierre Agostini, followed by remarks from Peter Mohler, executive vice president for ERIK, marking this as a year of firsts with the recently announced SOAR study and a first-in-the-country spectrometer that is expected to attract scientists from around the world.

Ohio State's research prominence is evident in its ranking 11th among all universities and 7th among public universities in the National Science Foundation's Higher Education Research and Development (HERD) survey. Notably, the university saw a 9% increase in federal expenditures totaling $694.7 million in FY23, with significant growth across various federal agencies, including the National Institutes of Health, National Science Foundation, Department of Defense, and Department of Energy. Industry and state-sponsored research expenditures also saw notable increases. The growth in research funding is widespread across the university, benefiting numerous colleges significantly. 

Additionally, the trustees approved naming two spaces within the Wexner Medical Center's Hospital Tower project, recognizing a substantial philanthropic $50 million commitment from the Robert F. Wolfe and Edgar T. Wolfe Foundation, among the largest gifts ever made to the medical center, which underscores the university's ongoing efforts to speed progress toward new treatments and teaching opportunities.

Visit Ohio State News for the following stories: Ohio State research expenditures set new record at $1.449 billion, and Another research record set for Ohio State.