The Walton family, which owns a significant portion of Walmart, will launch a STEM-focused, ‘business-infused’ university in the coming years, according to a Thursday announcement.
The institution will be housed at Walmart’s former headquarters in Bentonville, Arkansas, and is being developed in collaboration with national education experts, according to Heartland Forward, a nonprofit launched by the family.
The university will reimagine STEM education for the next generation of innovators, builders and entrepreneurs, according to the announcement. The school expects to open in the coming years with about 500 students in its first undergraduate class and eventually expand to about 1,500 undergrads and 500 nondegree learners.
"The creation of a new STEM-focused university in Bentonville represents a bold step to strengthen our region's innovation capacity and deepen our workforce,” said Ross DeVol, chairman of the board and CEO of Heartland Forward, in a statement.
Stakeholders have in recent years said the U.S. needs a more robust STEM workforce to ensure economic strength, national security and global competitiveness.
Education institutions may be one part of meeting that need, but employers also have been advised to advertise career progression and upskill existing talent.
