The gift will fund additional office and research space for the fast-growing center, which opened in 2014 to conduct empirical research in economics focused on the role of incentives and markets in public policy. Initially funded by donations from faculty, the center has grown with support from alumni and a number of foundations, including the Chicago Community, Charles Koch, and John W. Anderson foundations. The university also announced that the venerable Purdue Center for Economic Education will become a part of the Research Center in Economics.
"Our goal is to increase the economic literacy of the state and country," said John Umbeck, one of the economics professors who started the center. "Part of our mission will be to translate our research into unbiased data analysis that policy makers, educators, and Americans can use to raise the level of discourse in our democracy."
"The momentum behind economics research of all types at Purdue is really thrilling," said David Hummels, dean of Purdue's Krannert School of Management. "Purdue recently dedicated the seventh floor of Krannert as a space for agricultural economics, and now thanks to Steven and Linda's generosity we will be able to do the same for the Krannert faculty who are affiliated with PURCE in order to give them a place to collaborate on their research and to mentor students."