COLUMBIA, Mo. (KMIZ)
The University of Missouri is launching MizzouForward, a planned $1.5 billion long-term investment over the next 10 years to enhance the university's research and education missions.
In a release, the investment from MizzouForward will use existing and new resources to recruit new tenure and tenure-track faculty, enhance staff to support the research mission, build and upgrade research facilities and instruments, augment support for student academic success, and retain faculty and staff through additional salary support.
"MizzouForward will provide our faculty with the resources, infrastructure, and support they need to conduct cutting-edge research, educate the next generation of our workforce and translate their academic activities to the benefit of our communities and society," said Mun Choi, president of the University of Missouri.
Officials project that the MizzouForward plan will make the following investments:
- Recruiting approximately 150 new faculty over the next 5-10 years; additionally, providing startup funds for new faculty that would be used to equip laboratory space and hire research assistants for new scientific projects.
- Recruiting approximately 150 new staff to support research core facilities, proposal development, award nominations and compliance.
- Investments in new and upgraded scientific facilities and instruments.
- Performance-based salary increases for faculty and staff.
- Dedicating resources that contribute to excellence in student academic success, increased graduation rates and increased placement outcomes.
Funding for MizzouForward will come through reallocations of current resources, while other sources of revenue are expected to be realized as the strategy moves forward. Some of those funding sources include:
- $100 million from the state to support the NextGen Precision Health initiative. Recently, the state added $10 million to the annual core appropriation for the University of Missouri. To date, the state has provided $27 million for this effort.
- $100 million from industry partners due to increasing license revenue of MU innovations.
- $300 million from tuition revenue. This revenue would be focused on areas that provide additional research and educational opportunities for both undergraduate and graduate students.
- $50 million from federal support through Veterans Administration partnership
- $100 million from university donors who support research philanthropy.
- $250 million from MU Health Care.