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System Research Expenditures Reach $2.94 Billion Exceeding Projections

~ The research expenditures have an economic impact of $5.5 billion and created an estimated 3,660 new jobs ~

GAINESVILLE, FL (March 27, 2024) – Today, the Board of Governors announced research expenditures for the State University System of Florida reached $2.94 billion for the 2022-23 academic year, which is an increase of more than $400 million over the prior year. Today’s announcement beats the projection of $2.68 billion set by the System in 2019 and puts Florida’s universities on a course to far exceed the goal of $3 billion by 2025. The SUS research expenditures created an estimated 3,660 new jobs and provided an economic impact of $5.5 billion, with $1 billion resulting from state funding.

“Through Governor DeSantis’ leadership and the support of the Florida legislature, Florida’s public universities have exceeded expectations by significantly investing in research to create new jobs and impact Florida’s economy for years to come,” said Chancellor Ray Rodrigues. “I look forward to what our outstanding faculty and institutions accomplish over the next five years.”

“The increase in research expenditures would not be possible without the continued collaboration our institutions have instilled to secure research grants as well as our exceptional faculty and graduate and undergraduate research scholars who have competed for federal awards,” said Brian Lamb, Chair of the Florida Board of Governors.

Each university in the SUS saw an increase in their research expenditures. The one-year gains across the system are:

  • University of Florida – $164 million
  • Florida State University – $58 million
  • University of South Florida – $56 million
  • Florida International University – $35 million
  • University of Central Florida – $32 million
  • Florida Atlantic University – $16 million
  • Florida Agricultural & Mechanical University – $15 million
  • Florida Gulf Coast University – $15 million
  • University of North Florida – $7 million
  • University of West Florida – $1 million
  • Florida Polytechnic University – $0.7 million


About the State University System of Florida and the Board of Governors

The State University System of Florida is a constitutional body led by the 17-member Board of Governors. The System has 12 universities and more than 430,000 students, making it the second-largest public university system in the nation. Florida has held the top spot in U.S. News & World Report for higher education since the inception of the rankings in 2017. Responsibilities include defining the distinctive mission of each institution and managing the System’s coordination and operation. The Board appoints a Chancellor who serves as the System’s chief executive. For more information, visit or follow us on Facebook and Twitter.