U.S. universities are spending more and more on R&D these days. In 2015 alone, colleges and universities spent a combined $68.8 billion on research and development with the top 20 colleges accounting for 30% of that.
To discover the universities spending the most in research and development, 24/7 Wall St. assessed R&D expenditure by university for the 2015 fiscal year with data from the National Science Foundation. Of the 1,871 major colleges and universities reviewed, 10 schools spent more than $1 billion on R&D.
Top 10 Universities for R&D Expenditure
- Johns Hopkins University in Baltimore, Maryland
- Annual R&D spend: $2.31 billion
- University of Michigan
- Annual R&D spend: $1.37 billion
- University of Washington
- Annual R&D spend: $1.18 billion
- University of California, San Francisco
- Annual R&D spend: $1.13 billion
- University of California, San Diego
- Annual R&D spend: $1.10 billion
- University of Wisconsin – Madison
- Annual R&D spend: $1.07 billion
- Duke University in Raleigh, North Carolina
- Annual R&D spend: $1.04 billion
- Stanford University in Stanford, California
- Annual R&D spend: $1.02 billion
- University of California, Los Angeles
- Annual R&D spend: $1.02 billion
- Harvard University in Cambridge, Massachusetts
- Annual R&D spend: $1.01 billion
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If your company is conducting R&D through a local university or college, you may be eligible for a higher R&D tax credit rate. Contact a Swanson Reed specialist to find out more information.