The University of Minnesota and Land O’Lakes announced Tuesday that the corporation will donate $25 million to new school projects, with a large portion of the funds going toward the school’s $190 million athletics facilities plan.
The Arden Hills-based corporation has pledged $15 million for a new facility, which is expected to open as the centerpiece of a new “Athletics Village” in fall 2016.
Land O’Lakes will receive naming rights to the 60,000-square-foot center, which will be home to academic and other programs available for both students and student-athletes.
The contribution will also help fund other projects across University colleges, including the Carlson School of Management and the College of Science and Engineering.
This is the largest donation Land O’Lakes and its foundation have ever made, according to a joint statement released by the corporation and the University on Tuesday.
“Today’s announcement underscores our commitment to educational excellence and further strengthens our investment in the pipeline of talent from the University of Minnesota,” said Land O’Lakes President and CEO Christopher Policinski in the release.
The company will pay the donation to the University between 2015 and 2024.
“Meaningful partnerships with Minnesota businesses are vital to the success of our students and the state’s economic future,” President Eric Kaler said in the release.