Arizona State University Surpasses $1B in Annual Research Spending

Arizona State University has exceeded $1 billion in annual research expenditures for the first time, placing the university among the top 4% of research institutions nationwide.

The milestone underscores ASU's rapid rise as a major research university and its focus on translating scientific discovery into public benefit — from improving health care and protecting ecosystems to strengthening national security.

"We have remained steadfast and determined in our goal to build a new model of a great American research university," said ASU President Michael Crow. "Surpassing $1 billion in research expenditures underscores our unwavering commitment to be a new gold standard of service to the community, our state and our nation."

According to the National Science Foundation's Higher Education Research and Development survey, ASU reported $1.003 billion in total research expenditures for fiscal year 2024 — an eightfold increase since Crow became president in 2002. ASU ranked 37 overall and 21 among public universities, ahead of Michigan State University, Purdue and the University of Illinois. 

ASU's rise has been marked by consistent recognition. The university has been ranked No. 1 in innovation for 11 consecutive years by U.S. News & World Report and No. 1 in the U.S. for global impact toward the U.N. Sustainable Development Goals for six straight years by Times Higher Education. In 2023, ASU was invited into the Association of American Universities.

ASU funding comes from federal agencies, state and local grants, industry partners and philanthropies. Research expenditures provide the most accurate measure of a university's research activity.

"ASU has a diverse funding portfolio," said Sally C. Morton, executive vice president of ASU Knowledge Enterprise. "Our rapid growth and achieving the $1 billion milestone reflect the confidence our partners have in our ability to deliver valuable results."