Utah Valley State College’s school of business not only received a new name Friday, it also received the largest donation in its history.

The Woodbury Corp. donated $20 million to the school, which is now called the Woodbury School of Business.

UVSC President William Sederburg said in a statement that the donation will help the school move to a new level of excellence as UVSC transitions into a university.
The donation also is the largest the Salt Lake City-based commercial real estate company has ever given. The money will be paid out over 10 years.

Stanley Jenne, dean of the business school, said in a statement that it will open opportunities to start new ventures, build new programs and keep the business school in the forefront of business education.

The school was first accredited in 1969. With an enrollment of more than 3,500 students, it offers bachelor’s of science degrees as wells as associate degrees and minors.
Previous contributions to UVSC from the Woodbury family have included scholarships and faculty grants, classroom space and mentoring services.

The donation follows a $3 million gift awarded Thursday to the University of Utah David Eccles School of Business by the Garff family.

That money will be used to renovate the Ken Garff Building at the U., which is named after the family’s patriarch.

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By Roxana Orellana
The Salt Lake Tribune