UT Announces Public-Private Partnership to Build Engineering Facility
Enhanced program will strengthen Innovation Valley and grow economy
Through a new public-private partnership, the University of Tennessee's College of Engineering will build a $37.5 million electrical and computer engineering building and make program enhancements that will boost its international prominence and attract top-notch professors, students and researchers. The improved program will also strengthen the areas engineering workforce and contribute to the growth of technology based companies.
The Tennessee legislature approved $25 million for the facility, one of the largest capital projects in Governor Phil Bredesen's 2005-2006 budget. UT Alumnus Dr. Min H. Kao, a 1977 electrical engineering graduate, has provided $12.5 million in private funding for the building. Kao has pledged an additional $5 million to match gifts, up to $5 million, to generate a $10 million endowment to support the department.
Kao's $17.5 million gift is the single largest private donation in UT Knoxville history. The department will soon become the Min H. Kao Department of Electrical and Computer Engineering and the building also will be named in his honor.
I am fortunate to be in a position to give back to a university that did so much for me, said Dr. Kao. The University of Tennessee opened its doors and offered me the opportunity to grow in my field. I hope the new facility will allow others to pursue their dreams and will further position UT as a gateway to great things in engineering and innovation.
The state-of-the-art facility, along with additional funds for new student scholarships, named professorships and fellowships, will fuel the College of Engineering's goal to be ranked among the top 45 engineering schools in the nation. The matching campaign underway is on track to reach the $5 million goal.
Kao is chairman and chief executive officer of Garmin Ltd. (NASDAQ: GRMN) a world leader in Global Positioning Systems. Kao co-founded the business in 1989, and it has reported significant growth for the past 14 years. Garmin, with approximately 2,600 employees worldwide, has facilities in Kansas, Oregon, Arizona, Taiwan,and England and has shipped more than 10 million products.