UPEI Celebrates Progress on New School of Business

November 17, 2006

Source: University of Prince Edward Island
http://www.upei.ca/cgi-new/view.cgi?id=3285

Today the School of Business at the University of Prince Edward Island celebrated the progress made on its new state-of-the-art facility that has been under construction since early October. Students, faculty, staff, alumni, dignitaries and friends attended a morning reception at the Faculty Lounge. UPEI President Wade MacLauchlan and School of Business Dean Roberta MacDonald offered remarks, noting the impact the new home for the Business School and Centre for Enterprise and Entrepreneurship will have on business education, research, and service.

"The new building is an exciting and historic milestone for the students, faculty, staff and alumni," said Roberta MacDonald. "It will be a major centre for business education and research for Prince Edward Island and beyond. We are thrilled with this exciting development."

The new building will see Marian Hall, which has been part of the University landscape since 1959, renovated and extended to provide 48,000 square feet of space. "This building will provide students with a cutting-edge interactive environment," said Dean MacDonald. "It will house classrooms, meeting spaces, public areas, offices, labs, and the Centre for Enterprise and Entrepreneurship."

Small and medium business has always been a focus at the School of Business Administration, and the Centre for Enterprise and Entrepreneurship (CEE) will enhance offerings to Island industries. The Tourism Research Centre, the PEI BioAlliance, and the ACOA Seed Capital program will be based in the CEE, creating links with the ground floor of PEI’s major economic opportunities.

PEI Premier Pat Binns offered a toast to the future of the Business School, recognizing the importance of entrepreneurship on PEI. The Honourable Peter MacKay, Minister of Foreign Affairs and Minister of the Atlantic Canada Opportunities Agency sent written remarks, noting that the creation of a Centre for Enterprise and Entrepreneurship at UPEI is an important initiative for the Island. Michael Schurman, chair of the UPEI Building a Legacy campaign, and Tim Banks, co-chair of the Business School’s portion of the campaign, advocated strengthening relationships between the business community and the university for the benefit of all.

Professor Crystal McLeod and students Alicia Bremner and David McKenna presented the contents of a time capsule, created by business students, which will be positioned in the new building. Following the reception, student marshalls, led by a piper, took guests on a tour overlooking the construction site.

The School will increase its offerings to include new streams of undergraduate programs such as specializations in Entrepreneurship and Biotech Management, and proposed graduate degrees in Innovative Management and Biotech Management "I’m very excited about the new building," says third-year student T.J. Cummiskey. "It will create excellent opportunities and advantages for students and the business community alike."

With the growth of the Biotech industry on PEI, opportunities are being created in the ‘business of science.’ Dr. Tony Lucas is the Executive-in-Residence for Biotech Management, and is the liaison between the School of Business and the science-business community to help identify the needs of this industry. "The School of Business with its enhanced capabilities and new Centre for Enterprise and Entrepreneurship will play a critical role in developing the necessary skills and people who will catalyze innovation for the growing bio-industry here and in the world," said Lucas.

The campaign to generate $6 million in private financial support for the development is being led by Tim Banks, President of the APM Group, and Dr. Roberta MacDonald. Banks has announced his own $100,000 pledge to the campaign and Chancellor Bill Andrew has made a private donation of $100,000. The provincial government has committed $4 million as part of a $25 million commitment for capital renewal at UPEI over 10 years. The Atlantic Canada Opportunities Agency is contributing $1.69 million to the Centre for Enterprise and Entrepreneurship.

Contact Name: Anne McCallum Department: Media Relations and CommunicationsPhone: 902-566-0760 Email: aemccallum@upei.ca