URC applauds increased investment in higher education in 2024 budget

LANSING, Mich.Britany Affolter-Caine, executive director of Michigan’s University Research Corridor — an alliance of Michigan State University, the University of Michigan and Wayne State University — released the following statement today applauding the FY 2024 budget passed by the Michigan Legislature late last night.

“The University Research Corridor applauds the Michigan Legislature’s increased investment in Michigan’s colleges and universities, which includes a 5% across-the-board increase in operational funding for the state's 15 public universities as well as significant funding to improve existing facilities, infrastructure and technology. The budget also boosts investment in students and potential students through $50 million in funding for the Michigan Achievement Scholarship, including additional funds to help reach students eligible for the scholarship. Much needed funding was also included for student wellness initiatives and college affordability grants for students close to completing a credential or degree.

“We’re also pleased to see the budget include investments in research in critical areas, such as clean water and infrastructure, which will support a stronger Michigan and healthier communities. Additionally, the legislature made significant investment strides that help our research institutions remain focused on their public mission in supporting state health care, education, infrastructure, and economic development needs, while utilizing the state's world class research to more effectively address decision making and outcomes.

“This funding builds on last year’s historic investment in higher education and highlights the important role Michigan’s research universities play in talent creation and economic development. It will help our universities develop more of the high-demand graduates that our businesses and industries need to thrive and the innovation they need to compete.”

The 2022 URC Economic Impact Report showed that for every dollar that the state has invested in URC institutions, the URC has put back $22 into the state economy. The three URC universities conduct $2.64 billion in research and development, much in areas of critical importance to Michigan residents and key industries.

The three URC institutions enroll 155,000 students, grant nearly 13,000 degrees in high-tech areas annually, as well as nearly 13,500 degrees in high-demand areas such as business, computer science and engineering, and more than 2,500 medical degrees.

About Michigan’s University Research Corridor

Michigan’s University Research Corridor (URC) is an alliance of Michigan State University, the University of Michigan and Wayne State University and the leading engine for innovation in Michigan and the Great Lakes region. The URC is focused on increasing economic prosperity and connecting Michigan to the world.