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Va. Tech research spending ranks No. 41 in survey

Friday - 12/7/2012, 1:25pm  ET

BLACKSBURG, Va. - Virginia Tech says its research spending ranks it in the top 5 percent of research universities and colleges in an annual survey by the National Science Foundation.

Officials said the Blacksburg school spent more than $450 million in research funding in the last fiscal year, ranking it No. 41 on the survey of more than 900 institutions.

Virginia Tech says its research expenditures increased 13 percent in fiscal 2011. It is the only Virginia institution in the top 50.

The foundation says national university spending on research and development increased 4 percent to $65 billion in 2011. That total includes $4.2 billion in federal Recovery Act awards that must be spent by the end of the 2013 calendar year.

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