LOGAN — Jon M. Huntsman announced that he and his wife, Karen H. Huntsman, are giving nearly $26 million to Utah State University, USU's largest donation to date.
USU President Stan L. Albrecht said $25 million will go to the School of Business, and approximately $1 million will be used as scholarship support for USU students from Armenia.
In recognition of the gift, College of Business has changed its name to the Jon M. Huntsman School of Business .
The announcement came today at an event in the Taggart Student Center on the USU campus. The program featured remarks from Jon Huntsman; Karen Huntsman; Gov. Jon M. Huntsman Jr.; President Boyd K. Packer of the Council of the Twelve of the Church of Jesus Christ of Latter-day Saints; Thomas P. Gerrity, former dean and Joseph J. Aresty Professor of Management at the Wharton School of Business at the University of Pennsylvania; President Albrecht and Douglas D. Anderson, College of Business dean.
Albrecht called Huntsman one of the nation's outstanding leaders and philanthropists.
"We are deeply appreciative of the Huntsman family and their dedication to higher education in Utah," Albrecht said. "The impact of this generous gift will be felt not only by the College of Business but by the entire university. The Jon M. Huntsman School of Business will help our students prepare to become tomorrow's leaders — locally, regionally, nationally and globally."
Anderson said this monumental gift comes at the perfect time.
"The College of Business has become a professional school of distinction, a career accelerator for our students, and an engine of growth for the state and region," Anderson said. "Jon and Karen Huntsman are investing in this school at a time when we have tremendous momentum and our relationship with them can only accelerate our progress. The Huntsman name stands for excellence and integrity. We are proud and grateful to have their name linked with ours."
Jon Huntsman praised the university and its College of Business.
"Utah State University is a beautiful and most-unique academy for higher education in America," Huntsman said. "Our family is deeply honored to be intricately bonded with its school of business. We shall provide every possible means to continue its growth toward a world-class institution."
Huntsman previously funded Utah State's Huntsman Environmental Research Center and the David B. Haight Alumni Center.
Huntsman's relationship with the Armenian people began after a devastating earthquake struck in 1988, leaving thousands homeless. Over the succeeding 18 years, he contributed more than $50 million to the Armenian people, including to the production of reconstruction materials and to the construction of a K-12 school and a residential apartment complex in the village of Gyumri.
In March, Albrecht announced USU's first comprehensive campaign with the goal of raising $200 million by 2010. He said this gift from the Huntsman family greatly contributes to achieving this goal.