University of Missouri touts $1.5 billion investment plan

COLUMBIA, Mo. -- The University of Missouri announced Monday it plans to spend $1.5 billion during the next 10 years to hire about 300 more teachers and staff to enhance the university's research mission.

The plan, named MizzouForward, will use new and existing resources to recruit about 150 tenured and tenure-track faculty and about 150 staff positions, the school said in a news release.

Funding also will go toward performance-based salary increases for faculty and staff, new or upgraded scientific facilities, and support for student academic success, including improved graduation rates.

Some of the funding sources listed by the university include $250 million from MU Health Care, $100 million from donors, $300 million from tuition revenue, $100 million from industry partners and state support for the NextGen Precision Health Initiative.

"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 system and chancellor of the University of Missouri.