LEXINGTON, Ky. (March 1, 2013) — The University of Kentucky’s Gatton College of Business and Economics celebrated a fundraising milestone Friday, when the business school reached the halfway point in its fundraising effort to expand and renovate its facilities.
Joined by UK President Eli Capilouto, Gatton College Dean David W. Blackwell announced that nearly $34 million in private funds has been donated or pledged toward the $65 million project, which will nearly double the space available for students, faculty and staff and enable the college to offer state-of-the-art technology throughout the building.
Nearly 300 individuals, foundations and corporations have supported the project, including C.M. “Bill” Gatton, Don and Cathy Jacobs, Howard Lewis and Bill Seale, whose combined donations contributed approximately $23 million, Blackwell said.
“This is a momentous day for the Gatton College,” Blackwell said. “The outpouring of support from our alumni, other friends of the college, and the business community continues to be nothing short of sensational.”
The expansion and renovation plans call for a dramatic increase in space for educational offerings, as well as high-tech enhancements to classrooms and laboratories for students on both the undergraduate and graduate levels.
The Gatton College is expected to grow substantially in the number of students entering its programs in future years, as well as in the quality of the academic profile of those students.
The project is part of UK’s overall capital improvement plan recently approved by the Kentucky General Assembly and signed into law by Gov. Steve Beshear. No state tax dollars will be used in any of the UK construction projects, which also include a new science building and improvements to Commonwealth Stadium and UK’s football facilities.
The design phase of the Gatton expansion and renovation project is under way, and construction is expected to begin later this year. It is scheduled to be completed by the fall of 2015 or early in 2016.