For Immediate Release April 30, 2008
ConocoPhillips pledges $15 million to the University of Alaska Anchorage
New Integrated Science Building will carry company’s name
ANCHORAGE, AK – ConocoPhillips Alaska, Inc. has pledged $15 million to support science and engineering programs at the University of Alaska Anchorage (UAA). This gift is the largest the company has ever made in Alaska and is also the largest single corporate gift that the University system, including UAA has received.
In honor of this pledge, and in recognition of the $20 million dollars in unrestricted support that ConocoPhillips has contributed to the University of Alaska since 1999, UAA’s new Integrated Science Building will carry ConocoPhillips’ name. Four million dollars of this gift will fund equipment for the state-of-the-art ConocoPhillips Integrated Science Building which is due to open its doors in fall of 2009; $11 million will establish the ConocoPhillips Arctic Science and EngineeringEndowment.
This unprecedented gift will be used to help increase understanding of engineering and the natural sciences in northern climates and communities. “This gift is incredibly valuable to the university because it can be used for what we believe best serves the academic needs of our students and faculty,” said Dr. Douglas Causey, UAA’s Vice Provost for Research and Graduate Studies. In addition to program expansion, this money will be used to purchase equipment for the research and teaching labs in the building, and provide support for faculty and student research in science and engineering.
“This pledge to the University of Alaska continues our tradition of investing in quality training and education opportunities in Alaska,” said Jim Bowles, president of ConocoPhillips Alaska. “Our company is investing in the University’s arctic science and engineering programs to create the scientists and engineers of tomorrow. We hope that funding these programs at the University of Alaska Anchoragewill encourage students to stay in Alaska, work in Alaska and foster innovative thought to our state.”
"This gift is an excellent example of university/community partnerships. ConocoPhillips knows that the university's mission to provide education, training and research helps to develop Alaska's economy. Our efforts to expand the number of engineers and scientists will help employers hire locally,” said Chancellor Fran Ulmer. "By building the programs and providing the resources necessary for students to enter the workforce, more of our graduates will be able to be successful in Alaska's high-demand job fields."
When fully funded, the ConocoPhillips Arctic Science and Engineering Endowment’s initial contributions of $11 million will generate nearly $500,000 in interest the first year that distributions will be made in 2016.
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Kristin DeSmith ● Office of University Advancement ● (907) 786-1263 office (907) 250-1825 cell