A grant from the Lilly Endowment will fund more than half the renovation of the Kelley School of Business’s undergraduate building, school officials announced Wednesday.
The $33-million grant, announced by Indiana University President Michael McRobbie Wednesday, is the largest donation received by the Kelley School in more than 90 years.
Kelley School Dean Dan Smith says that the grant will position the school for the future.
“It’s going to allow us to be the most technologically advanced business school building in the nation if not the world,” he says, “and what that’s going to allow us to do is to collaborate. Bring student teams from the Kelley School to work on projects from all over the state.”
Kelley School alumnus and hedge fund manager James Hodge also donated $15-million to the $60-million renovation and will have the building named in his honor. Following the restoration, the building will be equipped with teleconferencing hardware and will include a new stock trading room.
Sophomore accounting major Ben Akinbola agrees the grant will be beneficial to the future of business education.
“With this is going to come a lot of new experiences with learning,” he says, “so I’m going to use this as learning in a new environment in general coming to college was in one environment. But learning in a building that’s going to be changing new environment is another new environment and I’m looking forward to it. “
Construction will begin this spring. McRobbie says no taxpayer dollars will be used to retrofit the building.