Saginaw Valley State University expects to begin construction on a 38,500 square foot building addition for its College of Business and Management later this year, following construction authorization and a commitment of $9.8 million by the State of Michigan that was signed into law Thursday, Dec. 28.
“This is tremendous news for our enterprising business students and faculty, and for the regional business community,” said Donald Bachand, SVSU president. “Innovation drives business profitability, and this new facility will allow us to further innovate our strong business curriculum and promote the collaborative learning and problem-solving that fuels the modern economy.”
SVSU will undertake a $25 million project to build an addition connected to the existing Malcolm Field Theatre for Performing Arts, near Curtiss Hall, where faculty offices for the College of Business of Management are located. The expansion is estimated to cost $18.5 million, and $6.5 million is allocated to cover renovations to Curtiss Hall and other business school needs.
Last July, SVSU had received planning authorization for its capital outlay request for state funding; that was included in the 2018 fiscal year budget for the State of Michigan.
Planned improvements for the new facility include:
SVSU's College of Business and Management is accredited by AACSB International, placing SVSU in the top 5 percent of business schools worldwide. Included among the 28 academic programs are specialized opportunities that draw upon the unique business resources of the Great Lakes Bay Region, such as academic minors in entrepreneurship and family business management. SVSU hosts the Dow Entreprenuership Institute and the Stevens Center for Family Business.
President Bachand expressed appreciation to the legislators who supported SVSU’s proposal.
“I would like to thank members of our legislative delegation in the Great Lakes Bay Region, especially Senator Ken Horn and Representative Tim Kelly; as well as senators Darwin Booher and Tonya Schuitmaker, and Representative Larry Inman of the joint capital outlay committee; and Governor Rick Snyder for their support,” Bachand said. “This facility will serve as a vital resource to advance economic prosperity in our region and our state.”
A groundbreaking ceremony is anticipated for the spring or summer of 2018.
The SVSU Foundation has begun a fundraising campaign to support the project, and hopes to generate up to $15 million in private donor support.