Bank of America awards Texas Tech $350,000
The donation will be used to fund an Amarillo, Texas-based veterinary school that is estimated to generate over $75 million in revenue annually and create nearly 375 new jobs in the region.
The Texas Tech University School of Veterinary Medicine (SVM) recently received a donation of $350,000 from Bank of America to build a new, renowned veterinary school. This gift is the largest regional commitment by the bank and will help advance economic mobility, contribute to facility costs, program support, and improve the shortage of veterinary resources in the area.
“Our facilities are truly world-class. They will be a fantastic academic home for our students, staff, and faculty. We are so thankful that our community, the region as a whole, and Bank of America have made these facilities and our programs a reality,” says Guy Loneragan, BVSc, PhD, SVM dean, in this release.
“This gift will contribute to a premier space for students and support critical programs and recruitment efforts across the region,” he adds.
According to the release, SVM plans to build a 185,000-sq ft 2-story facility and is expected to enroll more than 450 veterinary and graduate students in 2021. The facility’s programs and research components will support sustainability efforts in the livestock industry and are estimated to generate over $75 million in revenue and cultivate nearly 375 new jobs.
Additionally, SVM maintains its core mission of supporting the veterinary service and providing affordable educational needs in rural and regional communities by initiating programs to enhance cultural competency. These programs will aid in effectively recruiting students from underrepresented populations and/or in communities on Texas’ southern border.
The goal of these initiatives is to refine the admissions process and recognize students with great potential but lack the opportunity or resources to attend pre-veterinary programs. They will also design educational models to help students develop Spanish competency to effectively communicate with bilingual or Spanish-speaking clients.
These initiatives are funded in part by the Bank of America’s donation and the SVM Cultural Competency Council, spearheaded by faculty members Arlene Garcia, PhD, and László Hunyadi, DVM, MS, DACVIM (LAIM).
“Texas Tech University's School of Veterinary Medicine will serve as a social and economic anchor for Amarillo, the region, and our state,” says W. Ashley Allen, president of Bank of America in Amarillo, in the release.
“The groundbreaking research and teaching on the animal and human interface will benefit all societies and animals' well-being. Our philanthropic investment will pay dividends for years to come, supporting economic mobility and bolstering rural jobs for the region,” she adds.