The University of Hawaiʻi (UH) has yet again broken its own record for extramural funding, securing a staggering $615.7 million in fiscal year 2024. According to a report from Governor Josh Green's office, this feat represents the third year in a row where the institution's funding has soared past half a billion dollars, reflecting a notable 19.3% increase from the previous fiscal year's high water mark.
During a news conference held on August 12 at UH Mānoa, Governor Green highlighted the significant role UH researchers play in elevating Hawaiʻi's economy; they also contribute valuable expertise for addressing critical issues such as COVID-19, climate change, conservation, and renewable energy. The university's achievements send a positive signal to local youth about the viability of pursuing advanced education and professional development within the state that has been receiving increasing funding from federal government sources, industries, and nonprofit entities; the university continues to draw national and international attention for its innovative work.
The economic implications of UH's extramural funding extend beyond educational advancements, as reported in a 2021 economic impact report by the UH Economic Research Organization, these funds are projected to generate upwards of $947 million in total business sales, provide around $434 million in employee earnings, contribute $53 million to state tax revenue, and support in excess of 10,000 jobs across various sectors--UH President David Lassner described this surge in investment as an endorsement of Hawaiʻi's public higher education system by external organizations, and a testament to the intellectual capacity found within the UH community.
The distribution of funds across UH's System showcases UH Mānoa as the frontrunner, having garnered $464.9 million, Lassner's acknowledgment of the more than $1.5 billion amassed over the past three years underscores the external confidence and belief in UH's ability to tackle global challenges and explore new frontiers; meanwhile, the UH System at large brought in $71.2 million, UH Community Colleges $51.1 million, UH Hilo $22.6 million and UH West O‘ahu $5.9 million.
"Having the best and the brightest researchers at UH boosts our state’s economy and provides access to valuable insight and expertise in dealing with problems facing our community, like COVID-19, climate change, conservation and renewable energy," said Governor Green in the announcement on Office of the Governor Josh Green website, emphasizing the profound impact that the university's research and educational prowess have on local and global scales.
