Saginaw Valley State University welcomed campus, community and business leaders to celebrate a $25 million construction project that will enhance business research and education, while also supporting the region's business community through state-of-the-art educational resources and strengthened partnerships with local entrepreneurs.
The groundbreaking ceremony for a planned 38,500-square-foot building expansion to house SVSU's Scott L. Carmona College of Business & Management began at 11:30 a.m. Monday, Oct. 22. The event was held near the entrance of SVSU's Groening Commons, next to where the addition will be built.
“This building project will provide resources to advance teaching and learning in our business disciplines, and it further reinforces our commitment to graduate outstanding business professionals for the leading employers in our region and our state,” said Donald Bachand, SVSU president.
“We would like to thank the state legislators who supported the nearly $10 million in state funding we received for this project, as well as the many alumni and friends who have given generously to create these new opportunities for students, faculty, staff and the business community.”
Bachand joined several speakers for the event. Others included Andrew Bethune, executive director of The SVSU Foundation; Anthony Bowrin, dean of the Scott L. Carmona College of Business & Management; John Kaczynski, SVSU director of Governmental Affairs; Morrison Stevens Sr., chairman of Stevens Worldwide Van Lines and a chair of the fundraising campaign supporting the expansion project; and Jenée Velasquez, executive director of The Herbert H. and Grace A. Dow Foundation as well as chair of the SVSU Board of Control.
The namesake of the College of Business & Management, Scott Carmona, also spoke at the groundbreaking. In May, the SVSU alumnus and his family pledged the lead gift for the project's fundraising campaign.
“SVSU equipped me with many of the tools in life that I used to build a successful career in business along with the steadfast support of my wife, Nancy,” said Carmona, the owner of Sunrise National Distributors Inc. and a member of SVSU's Board of Control.
“It is our hope that this newly constructed and renovated building will be an inspiration for the many business students to remain engaged with this wonderful community and to share their time, talent and treasures. Because at SVSU, success is not acquired for its own sake, but for the sake of the people and the places that once lifted you up.”
The expansion project will create additional space to house the academic college's classrooms, faculty offices and business programs. Those elements are spread across SVSU's campus today.
The new space also will include state-of-the-art technology such as analytics labs and a Bloomberg Trading Room, which tracks stock data in real time. Planners say the upgrades will provide hands-on learning opportunities for students while also encouraging members of the business community to visit campus and engage with students.
"The opportunities and technologies that will be available when this facility opens in 2020 will be spectacular and will prepare and empower students for many years to come," Carmona said.
The $25 million project is funded in part by a $9.8 million commitment from the State of Michigan. The SVSU Foundation is leading a $15 million fundraising campaign to support the expansion project.
Following the Monday groundbreaking ceremony, a reception will be hosted in SVSU's Curtiss Hall second floor banquet rooms. The banquet rooms also will serve as an alternative site of the groundbreaking ceremony in the event of poor weather conditions.