West Virginia University has announced a $5 million gift from business school alumnus Ken Kendrick and his wife, Randy, and the Charles Koch Foundation to launch a new center dedicated to the study of the economic, political, and social factors that drive prosperity.
The gift will enable the university's College of Business and Economics to create a Center for Free Enterprise that works to advance teaching and research on the roles that the principles and institutions of a free society play in creating widely shared prosperity and an improved quality of life. The gift will also make it possible for the center to hire a managing director, establish at least five visiting faculty fellowships, and provide fellowships to at least seventeen Ph.D, students over the next five years.
"Randy and I are delighted to partner with the Charles Koch Foundation in establishing the Center for Free Enterprise at WVU," said Kendrick. "I have been a lifelong entrepreneur and am very grateful for the opportunity to have started my business career in West Virginia many years ago. I believe supporting the center is a great way to give back to WVU."