The Scott L. Carmona College of Business & Management, a $25 million and 38,500 foot expansion, will be the newest addition to SVSU’s campus.
On May 14, the Board of Control decided to name the new building after Carmona, an SVSU alumnus, entrepreneur and lead philanthropist for the business department’s fundraising campaign.
The new building will feature a finance trading room and big-data lab, which will give students better analytical databases and research tools regarding finance, marketing, healthcare and supply chain management.
One of the primary new analytical tools in the big-data lab is the Bloomberg terminal, a global online service that provides users with company information such as stock performance, news, balance sheets, historical data and much more. The Bloomberg terminal has one of the most extensive and comprehensive databases available in the financial world.
Anthony Bowrin, the dean of the College of Business and Management, believes these new resources will allow the college to better prepare students. The variety of analytical and creative tools will foster development of both soft and technical skills.
“Information on every financial market, instrument and variable in the world is at your fingertips,” Bowrin said. “The immediacy of access to market and global news and the context-rich scenarios will add realism to the classroom.”
The groundbreaking ceremony is tentatively scheduled for Oct. 22, and it’s estimated that the building will be ready for use in the winter semester of 2020.
Carmona graduated with a degree in engineering and serves on the SVSU engineering advisory board. His entrepreneurial ventures include owning Sunrise National Distributors, Inc. and managing several real estate developments in Michigan and Florida. He has also served the greater community of Saginaw through charity involvement.
He is the recipient of several business education awards. In addition to donating the lead philanthropic gift toward the new building for the College of Business and Management, Carmona has instituted two scholarship funds for SVSU students: the Carmona Endowed Business Scholarship and the Scott and Nancy Carmona Engineering Scholarship.
“With the success of this university’s alumni and how they have spread SVSU’s influence across the world, we decided to support the continued success of future generations of students from here,” Carmona said. “This expansion will give students a leg up in the business world. We want to help future generations find success.”