BLACKSBURG, Va. (AP) — Virginia Tech says the university spent about 13 percent more in research funding in the last fiscal year.
The Blacksburg school says that research expenditures for the fiscal year that ended June 30 rose to $450 million from the $398 million reported in fiscal year 2010.
Officials say that increase is the largest dollar growth and the second-biggest percentage increase during the past nine years.
The largest growth in the 2011 figures came from $26.6 million in federal sources. Some of that money was federal stimulus funding that the university says will be fully expended by the end of 2013.
Officials say university support rose 16 percent while other state funding dropped dramatically. Industry and business support increased about 7 percent to nearly $22.8 million.
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