USC has broken its record for sponsored research award money, with faculty bringing in $253.6 million in grant money for the 2017 fiscal year.
The previous record was $250.1 million, set in 2016. This is the third year in a row that funding has increased.
Awards include everything from $8.3 million from the Office of Naval Research for improving energy systems on naval ships to $3.1 million for exploring techniques to treat HIV/AIDS in South Carolina.
Vice President for Research Prakash Nagarkatti lauded the positive impacts of of the money on the university and the state. Every dollar spent on research creates $3 worth of economic impact, according to Nagarkatti. This adds up to "about three quarters of a billion dollars" in economic impact each year.
The growing pool of grant money also provides opportunities for "several hundred students and faculty to participate in sponsored research."
"The faculty members take this knowledge to their classrooms, which can benefit students who get firsthand experience in innovation," he said. "The faculty, by training undergraduate and graduate students in research, prepare the future workforce with the real world innovation skills that drive the economy of the state and the country."
Nagarkatti is eager to continue to grow the university's brand as a "comprehensive research university."
"Our office encourages our excellent faculty to focus on the ‘III’ mission: Innovation, Integration and Interdisciplinary discovery," he said.