Two family foundations are to gift USD 25mn each to the business school of the Utah State University. The gift from the Huntsman Foundation and Charles Koch Foundation will help the school expand its faculty and increase its student scholarship offers. The money will be paid over a period of ten years, said Doug Anderson, Dean of the Huntsman School of Business. He said that the Koch Foundation’s gift will be used to create six faculty positions which will contribute to faculty and student research. It will also contribute three scholarships to the Koch Scholarship programme.

Huntsman family’s Paul Huntsman said that the joint donation stems from a longstanding business relationship between Huntsman Corp. and Koch Industries. “My father and the Kochs have had a business relationship in the past. They’ve continued to remain friends over the years.” With this gift the school will also launch a Center for Growth and Opportunity with a focus on research, seminars and workshops. Mr. Huntsman stated that his family’s support to the school is to strengthen its undergraduate programme. “What we’re looking at is for Utah State to be one of the premier undergraduate business schools,” Huntsman said. Dean Anderson thanked the two family foundations for their generous support to help the school create one of the finest undergraduate colleges of business.

Source: The Salt Lake Tribune, May 6, 2017.