The University of Toledo College of Business Administration was awarded $900,000 from the Kresge Foundation toward constructing and equipping the Savage & Associates Complex for Business Learning and Engagement.
The Kresge Challenge Grant, announced in September 2007, required the University to raise $4.4 million toward construction of the complex by April 1 to receive the $900,000 award.
“As of March 30, 2009, we have successfully completed the Kresge Foundation Challenge, raising a total of $4,505,589. We are ecstatic about reaching this goal and extremely honored to receive the Kresge Foundation grant,” said Dr. Thomas Gutteridge, dean of the College of Business Administration.
“Our gratitude to our generous donors is endless. This campaign received tremendous support from alumni, faculty and staff, the business community, and many others who understand and appreciate the immense importance of this project,” he said.
“Enrollment in the UT College of Business Administration continues to climb because students recognize the high quality of our undergraduate and graduate programs. The current global economic situation further crystallizes that a UT business degree can strengthen one’s future,” Gutteridge added. “Support from our donors and the Kresge Foundation for the Savage & Associates Complex for Business Learning and Engagement assures the best possible learning environment for our students.”
Education is one of the Kresge Foundation’s six primary fields of interest. The foundation supports organizations and institutions working to address the challenges brought about by the global economy and the issues associated with educating a work force capable of competing in this economy.
With approximately 54,000 square feet of space, the Savage & Associates Complex for Business Learning and Engagement will include 10 state-of-the-art classrooms seating from 30 to 125 students; five breakout rooms with video conferencing capabilities; eight conference rooms; the 40-seat FirstEnergy Boardroom; and a rooftop garden.
The complex also will include five action learning labs: the Richard W. and Martha Hardy McEwen Information and Technology Management Lab; the John B. & Lillian E. Neff Trading Floor; the National City Bank Entrepreneurship Lab; the Huntington Professional Sales Lab; and the Ernst & Young LLP Leadership Lab. It will have suites for the College of Business Administration’s Executive Center for Global Competitiveness, Center for Family Business, Center for Technological Entrepreneurship and Innovation, Ronald Langenderfer Business Career Program and the Edward H. Schmidt School of Professional Sales.
“The Savage & Associates Complex for Business Learning and Engagement will be a new high-tech home for the high-quality education students expect from The University of Toledo, as well as a remarkable resource to the community,” Gutteridge said. “The Kresge Foundation’s very generous grant is a tremendous external validation that the College of Business Administration is establishing a level of national and global prominence.”