Purdue University on Tuesday announced that they will receive $100 million in grants from the Lilly Endowment.
Money will be used on two major Purdue initiatives - the Mitch Daniels School of Business and growth in computing fields including artificial intelligence and semiconductors.
The two $50 million grants represent the largest gift in Purdue University history, according to a release.
In a statement, Purdue President Mung Chiang said that “these strategic initiatives will further elevate Purdue’s excellence at scale for Indiana’s job creation, workforce brain gain and tech-driven prosperity.”
Roughly $50 million will be put towards a building for the new Mitch Daniels School of Business, which is already under construction. In total, the Daniels School will be spread across three buildings once construction is complete.
The other $50 million will be used to support renovations of a nanotechnology laboratory, a physical artificial intelligence institute, and an expanded talent pipeline in both AI and semiconductor sectors. The initiative is dubbed Purdue Computes.
The investment comes as national concerns have mounted about a lack of workers to fill the growing semiconductor sector.
Officials say the two grants support the combined missions to improve Indiana’s talent pipeline, position the university to better stimulate economic growth, and build Purdue’s reputation - particularly in STEM fields.
