December 9, 2003
UW Business School announces $20 million in gifts to fund new facility
The University of Washington Business School announced today the combined contributions of $20 million by members of its advisory board to help fund the construction of a new building to accommodate the near and long-term growth by the UW’s nationally ranked Business School. The advisory board is composed of both regional and national business executives.
University of Washington President Lee Huntsman praised the board members for their support.
“This is a wonderful expression of confidence in the future of our outstanding Business School,” Huntsman said. “These patrons clearly see the importance of investing in business education — an investment that will help create the next generation of business leaders and return value to our regional economy. We are very grateful for these generous gifts.”
Currently, the UW receives less than four percent in funding for new building construction from the state of Washington, making private support and contributions from alumni and friends more important than at any other time in the university’s 142-year history.
“These gifts represent a giant stride toward building a world-class facility,” said Business School Dean Yash Gupta. “They will allow us to provide students with a superior learning experience, attract top faculty and business partners and strengthen Seattle’s reputation as a dynamic business center.”
Today’s gifts bring the Business School closer to its goal of raising $100 million for a new facility. When completed, the new building will increase total space by nearly 50 percent, adding 52,000 square feet that will contain interactive lecture halls, wireless classrooms, computer labs, study areas and offices for faculty and staff. Additional major gifts to the UW Business School will be announced early next year.
Michael Garvey and Charles Lillis, members of the business school advisory board, are prominent entrepreneurs who share a lengthy history of supporting the Business School through their time and resources and agree that private support is key to enhancing education.
They say they hope these lead gifts will help build momentum to realize the school’s long-term plan of becoming one of the world’s premier institutions for business education and encourage more individuals and companies to get involved. They say they are convinced that an investment in training tomorrow’s entrepreneurs and business leaders will return enormous dividends to the Pacific Northwest and the nation.
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