Towson has been awarded $300,000 over the next three years to help better business development in Baltimore and Western Maryland.
The University received the United States Department of Commerce's Economic Development Administration grant. This is the second consecutive competitive cycle in which Towson was designated an EDA University Center.
From a press release, the grant, "enables [Towson] to enhance economic and business development in the city of Baltimore and in western Maryland by providing their local government agencies and business with research, business consulting, economic strategies and technical assistance."
Since President Robert Caret returned to Towson in 2003, the number of contracts and grants to the University have nearly tripled.
"One of the areas that we needed to pick up was grants and contracts and we've made significant progress," provost James Clements said, regarding the University's 2010 plan. "Last year, we've got just a whole slew of brand new grants and contracts."
In fact, in 2003 Towson operated with about $8 - 9 million in grants and contracts and today is reporting numbers in the low to mid-20 range.
Typically, grants and contracts are funding used to supplement graduate assistantships, new equipment and research,
Clements credits the rising number of grants and contracts to newly hired and long standing faculty members, a research advisory council that was established by the associate vice president for research Chao Lu and the division of economic and community outreach.
"I think there is also the mindset on campus, that we're evolving and part of that is more research," Clements said.
On the level of research, Lu is confident the number of grants will be higher next year.
"The full doctoral program, that's what gives us the ability when you go to ask for funding, with a doctoral students research with the faculty, that's when we get the federal dollars," Lu said.
The grants are organized and calculated by colleges. The Jess and Mildred Fisher College of Science and Mathematics accumulated the most money during the last cycle.
"It went from a little under a million, to three million [dollars]," Clements said.
"One of the ones they have is a really good National Science Foundation grant, that's a $2 million grant. It's really focused on producing more [science technology engineering and math] workforce for minority students and women."
To obtain contracts, the government places them up for bid and universities around the country bid on them, via competitive proposals.
Clements commented that over the summer, the University received the Information Assurance grant from the Department of Homeland Defense.
"If 10 percent of those proposals get funding, you're lucky," Ju said, commenting on the difficulty of obtaining certain contracts.
For now, Clements remains optimistic about the number of grants his University has received and will receive.
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