The donation from the John and Marcia Price Family Foundation will be used for scholarships, equipment, and a new $190 million building for the College of Engineering.
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- $32.5 million will go to scholarships, labs, equipment, and education initiatives.
- $17.5 million will contribute toward a new $190 million John and Marcia Price Computing and Engineering Building.
- The university is pending approval to rename the College of Engineering as the John and Marcia Price College of Engineering.
Students at the University of Utah’s College of Engineering are getting a historic boost to their education, thanks to Utah philanthropists John and Marcia Price.
On Jan. 10, the University of Utah announced a $50 million gift to the College of Engineering at the Warnock Engineering Building.
The university will use $32.5 million of the John and Marcia Price Family Foundation donation for scholarships, lab equipment, and educational initiatives. The other $17.5 million will go to the new $190 million computing and engineering building.
“The University of Utah has an international reputation for innovation in engineering and computer science,” said John Price. “Marcia and I want to help ensure that opportunity for this and future generations. Our gift to the College of Engineering is an investment, to provide education at the highest level of excellence, and to meet the engineering and computing needs for local and global demand.”
John Price is a University of Utah alum who’s served as a U.S. ambassador and on the university’s board of trustees. Marcia Price serves as board chair for the Utah Museum of Fine Arts. She was awarded an honorary doctor of fine arts from the university in 2006.
The new John and Marcia Price Computing and Engineering Building will be a six-story, 253,000-square-foot building. Ground will be broken in 2024. The University of Utah expects the facility to graduate 500 more students per year.
The University of Utah will also rename the engineering college to the John and Marcia Price College of Engineering after the board of trustees review on Feb. 14.
“This generous gift from the John and Marcia Price Family Foundation marks another significant milestone in our commitment to investing in students, research and programs that drive innovation,” said University of Utah President Taylor Randall. “This investment in the education of engineering and computer science professionals will have an exponential impact as they contribute economic and societal value to the state and the nation.”