Montana State Alumnus to Give $25 Million to MSU College of Business
Jake Jabs, president and CEO of American Furniture Warehouse based in Denver, announced today that he will give an unrestricted gift of $25 million to MSU’s College of Business. His generous donation is the largest private gift made in the history of the Montana higher education system.
“Thanks to his generosity, Mr. Jabs’ visionary gift will benefit generations of students to come,” said MSU President Waded Cruzado. “On behalf of all of us at MSU, I would like to offer Mr. Jabs our most sincere and heartfelt thanks and appreciation.”
As part of a comprehensive strategic plan for the College of Business, Cruzado said she will seek approval from the Montana Board of Regents and the Montana Legislature to construct a new building for the College of Business on the campus of Montana State in Bozeman.
“Mr. Jabs’ gift provides us with the necessary financial strength and flexibility to begin to advance our College of Business,” Cruzado said. “A new building is a necessary first step. We have a bold plan for the future of the College of Business – for it to be one of the best in the nation – and Mr. Jabs’ gift will get us started. We hope others will join us in building the best program possible for our students and the state. Imagine what we can do together.”
If approved, ground could be broken on the estimated $18 million to $20 million building in the spring of 2013 with completion in 2015.
The gift will also be used for new scholarships and new academic programs in: entrepreneurship, professional skills development and fostering cooperative work between business students and students in other disciplines, such as engineering, the sciences, agriculture, graphic arts and the humanities.
“Collaboration and team work among professionals from many different fields is the future of business, and Mr. Jabs’ gift will help us prepare our students for that world,” said Susan Dana, MSU College of Business interim dean.
Jabs, well-known in Colorado for his philanthropy, believes gifts to education provide a great benefit for the future. This is Jabs’ second gift to the College of Business. He gave $3 million to the College in December 2010 to fund the Jake Jabs Center for Entrepreneurship for the New West, which helps provide entrepreneurship-related services, learning opportunities, and professional experiences for College of Business students studying entrepreneurship.
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