The gift is the largest ever to the HSU School of Business, and among the largest gifts given by an individual to the university. It will be used to help meet a frequently cited need for more business graduates to expand the regional economy.
“This gift will help transform the School over the next five years,” says HSU President Rollin Richmond. “We are very grateful. We are proud to partner with someone who sees a need in our community and is willing to lead the way in helping HSU address it.”
The university is already committed to investing about $2 million over five years to significantly expand the size and scope of the School. Among other things, this will help fund more full-time faculty, renovate facilities and open additional class sections. Searches are currently being held for four new faculty members, with the goal of hiring them within a year, and additional full-time faculty positions are being considered.
HSU is also working with community leaders, alumni and others to raise at least $1.5 million in private support, which will ultimately determine how much the School is able to expand.
As part of the expansion, the business curriculum will be enhanced, new interdisciplinary certificates will be created for students in other majors and for working professionals, and the MBA program will be expanded. There will be more opportunities for student internships with local businesses and for student research projects. There will also be additional support for the School’s faculty to conduct research and undertake special projects.
In keeping with HSU’s general approach to teaching, students will be offered plenty of hands-on learning along with a solid educational foundation in a specialized area.
“What we have here is something rare in higher education – the chance to really transform a program in a relatively short period of time,” says Steve Hackett, an HSU professor of Economics who was recently chosen as the new Chair of the School of Business. “It’s an exciting time, and it’s inspiring that a community member has made such a tremendous investment in this effort.”
Hackett says that during the five-year “jump start,” the School will grow its enrollment enough to sustain its operations going forward. The School will continue to seek private gifts to support students and further enhance the program.
The School will focus on two main areas. First, it will expand its fundamental offerings, including accounting, finance, management, and marketing. Second, there will be a renewed focus on entrepreneurship as well as business practices related to natural resources and sustainability.
This focus on fundamentals along with specialized areas of focus will set the Humboldt program apart from many other business schools, helping it draw students from throughout California and beyond. Hackett compares the approach to many Humboldt County products, which succeed by serving niche markets with quality and local distinctiveness. “Think Cypress Grove Chevre versus mass-produced cheddar,” he says.
John Lee, the dean of HSU’s College of Professional Studies which houses the School of Business, says the School will remain one of his College’s top priorities for many years ahead.
“We’re determined to do everything possible to help it succeed,” he says. “The School of Business has a strong history, successful alumni working both locally and throughout the world, and faculty members who are very committed to their students. It has a good foundation, and now we have a very generous donor who is investing right along with the university to build something special.”