The Ross Foundation has donated $10 million to West Virginia University at Parkersburg for the university to acquire and renovate property which will be turned into the WVUP Technology Center.
The President of West Virginia University at Parkersburg, Dr. Torie Jackson, recently announced that the school’s foundation will receive the largest donation ever gifted to the institution.
A $10 million donation from The Ross Foundation is being provided to the WVU at Parkersburg Foundation with the purpose of creating a West Virginia University at Parkersburg Technology Center. The WVUP Foundation has already signed an asset purchase agreement for the former OVU property located in Wood County, West Virginia. The Foundation will buy the property after the agreement is approved by both the bankruptcy courts and the estate, and will use the remaining donation funds to renovate it.
In an article posted on WVUP’s website, Dr. Jackson was quoted from an address at a press conference held at the end of June, saying, “While the path to today has taken a few turns, it is leading us to an opportunity to impact the future economic development of the Mid-Ohio Valley.”
Also at the press conference was Tres Ross of The Ross Foundation, as well as a handful of other board members and dignitaries.
Ross was quoted about the donation, saying, “We’re happy to be part of this initiative that will help the WVU Parkersburg in an entrepreneurial way. We look forward to helping to grow more programs for our youth, especially in information technology businesses that create entrepreneurial opportunities.”
The purpose of the future WVUP Technology Center will be to be a place where the school can focus on the growth of degrees in computer information technology and computer science, the bachelor of applied technology in cybersecurity and networking, and to provide opportunities for growth in degrees like mechanical engineering.
West Virginia University at Parkersburg also hopes to include space for 25 technology based incubators to run in the new facility as well. The school plans to partner with the Wood County Development Authority as well as the WV Office of Economic Development to draw in companies to the Mid-Ohio Valley so that they can incubate in the new facility while bringing new technology jobs with them. The school will also be incubating student-run businesses, including winners of the pitch competition, which will hold its first competition this coming spring semester by the Erickson Endowed Chair of Entrepreneurship Professor Charles Almond. Having a place to incubate their businesses as they develop a concept and business plan into an operating company will serve as a huge benefit to students.
Dr. Jackson went on to talk about how this project will affect the community at large, saying, “This project is about an ecosystem change in Wood County. It’s about a higher education institution having an opportunity to bring transformative change to the economy of the Mid-Ohio Valley by partnering to bring new technology businesses here. This project is about giving students a safe place to begin tech businesses alongside prospering companies in an incubator facility. What we have before us is opportunity. Thank you, again, to The Ross Foundation for this amazing gift. We are blessed and honored to receive it.”
The Chancellor of WV Community and Technical College System, Dr. Sarah Tucker, was not at the press conference, but was available for a quote about the donation in which she said, “I believe this is the single greatest donation ever given to a community college in West Virginia. I am extremely proud of the work of our community colleges and WVU Parkersburg in particular. President Jackson and her team have worked very hard to secure this donation. I am so grateful for them and thankful for The Ross Foundation for their unwavering support.”
WV Delegate Vernon Criss also offered his support, saying, “This is a game changer in the sense that the opportunities for Parkersburg, Vienna, and the Wood County area are going to be on the forefront of the technology realm.”
The Board Chair for the WVU at Parkersburg Foundation, Becky Deem-McGinnis, also weighed in, saying, “If you look around, you can see that we live in a very special place. It’s a place where people will work together and help each other in order to better the community.”
The former OVU property offers a unique opportunity, as signing the asset purchase agreement means that now attorneys will file motions in estate court and in bankruptcy court, since the property is currently being held in receivership. Once the motions are filed, there will be hearings, and after the courts make a ruling, there will be a two-week bankruptcy court appeal process and a 30-day appeal process for the estate in receivership court. From there, WVUP will give a timeline for completion of the new technology center.
Joe Oliverio, who serves as the WVU Parkersburg Board of Governors Chair, was quoted about the donation, as well, saying, “We’re about to embark on the July 4 weekend, where many of us will watch fireworks. Before that firework hits the sky, it is in a very plain, dense container made up of many parts. The people sitting in this room today are just some of the parts that have been gathered together to be launched into the air and it will light up the sky with beauty and energy and love for our community to see. On behalf of the Board of Governors, thank you for being a part of the container and being able to see the vision that Sam Ross and the Ross Foundation had for this college, the community and our students.”
More information about West Virginia University at Parkersburg can be found at the school’s website.