The University of Florida’s (UF) research capabilities have reached unrivaled levels, with research spending hitting a record $1.26 billion in fiscal year 2024, up from $1.25 billion in the previous year. This growth is largely attributed to a nearly 10% increase in federally funded research. In 2024, federally funded research accounted for nearly 46% of UF’s total research expenditures.
This federal funding supports cutting-edge research and contributes significantly to job creation and economic development in the region. The University of Florida has helped launch roughly 300 biomedical and technology companies resulting from university research.
UF is actively involved in developing Gainesville’s Innovation District, a strategic initiative aimed at creating a world-class destination for Fortune 500 research companies and establishing a talent pipeline for UF students seeking jobs. This development is expected to further enhance UF’s economic impact and solidify its position as a driver of innovation and economic growth in Florida.