UVU Business
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This document discusses the need for a new building for the Woodbury School of Business at Utah Valley University. It notes that enrollment in the school has grown significantly in recent years and is projected to continue growing. The current building only has 78,000 square feet of space for over 5,000 students, resulting in very little space per student. A new building is proposed that would provide more innovative learning spaces, labs, and technology to accommodate continued enrollment growth and support regional economic development through its academic programs.
UVU Business
- 1. UVU Woodbury School of Business Board of Regents
- 2. UVU GROWTH HISTORY & PROJECTIONS
- 3. UVU STUDENT DEMOGRAPHICS • 110% increase in students of color since 2009 • 27% work more than 31 hours per week • 29% are older than 25 • 38% are married; 21% support at least one child • 49% are part-time students • 38% are first-generation students
- 4. FRESHMEN ENROLLMENT The Chronicle of Higher Education reports (Aug. 2016) UVU enrolls more freshmen from Utah than any other 4 year institution in the state • 83% of UVU freshmen from Utah • 68% are from Utah County
- 5. WOODBURYSCHOOLOFBUSINESS ENROLLMENT • Largest headcount for schools in USHE • 5,038 students (2015-16) • 5.7% average annual growth — last 5 years • 6,500 enrollment projection in 2020 • 8,400 enrollment projection in 2025
- 7. PROGRAMMATIC COST-EFFECTIVENESS • UVU’s Business Instructional Expenditure per FTE is 16% below the USHE average. • Programs are developed to ensure sustainability, maximum faculty utilization, and space efficiency (e.g. MBA specialization development).
- 8. PROGRAMMATIC STRENGTHS • Highest undergraduate CFA pass rate in the nation • Active engagement in American Marketing Association, Marketing Strategy Competition • Top 10 Nationally Ranked in Personal Financial Planning Program • Money Management Resource Center • Volunteer Income Tax Assistance (VITA) 216 returns last year • Neuroscience Sales and Marketing Lab (SMART Lab)
- 9. INSTRUCTIONAL LIMITATIONS The School of Business currently has 5,000+ students with only 78,000 sq. ft. in the current business building. • This equates to 15.6 sq. ft. per student. • With estimated enrollment growth this, will drop to 13 sq. ft. per student in 2 years.
- 10. STRUCTURAL LIMITATIONS With a 40 year old masonry sheer and bearing structure with a post-tensioned floor system design the removal of walls or drilling through floors could cause collapse. • Difficult to provide adequate Wi-Fi access • Unable to install new media systems especially helpful for business instruction
- 11. The new Woodbury School of Business building was added to the approved Master Plan in 2004 and made a strategic priority on the approved 2016 Master Plan. PART OFBOARD APPROVED CAMPUS MASTER PLAN
- 13. ENERGY CONSERVATION AND EFFICIENCIES • The new building will connect to our geothermal heating. • No additional boilers will be required. • Energy efficient construction and technology will be prioritized and utilized.
- 14. REPURPOSED FUNCTIONALLY OBSOLETE SPACE The existing 79,000 sq. ft. business building will be repurposed for programmatic expansion and classroom space better suited for its design and technical capabilities.
- 15. RESOLVES DAILY OPERATIONAL CHALLENGES AND THREATS • Reduces the dangers of over crowded hallways. • Improves Wi-Fi connection for students. • Increases restroom availability.
- 16. LEVERAGES COST-EFFECTIVE PARTNERSHIPS • GOED • UCCU • Vivint • NuSkin • Qualtrics • LJ Cooper
- 17. THE NEW WOODBURY SCHOOL OF BUSINESS: ENHANCING AND EXPANDING ECONOMIC OPPORTUNITY
- 18. INNOVATIVEDELIVERYOFACADEMICPROGRAMS • Specialty labs for: Bloomberg, Personal Financial Planning, SMART Lab • Student Success and Professional Development Centers • Entrepreneurial Innovation Center • Unique study spaces purpose-built for millennials • Purpose-built space and technology to support growth
- 19. INNOVATIVEDELIVERYOFACADEMICPROGRAMS 1 2 3 4 5 1 23 4 5
- 20. • Academic preparation for critical economic specializations • Sales • Operations management • Risk management • Healthcare administration • Tech entrepreneurship • Accountancy (M.A.) ENHANCING REGIONAL ECONOMIC DEVELOPMENT
- 21. ADDRESSES STATE & REGIONAL NEEDS 2017 Economic Report to the Governor
- 22. ADDRESSES STATE & REGIONAL NEEDS GOED STRATEGIC PLAN 2016-2020 The programmatic offerings in the Woodbury School of Business directly address 3 of the Governor’s 6 Strategic Objectives: • #3 Business Development & Entrepreneurship • #4 Tourism & Outdoor Recreation • #6 Collaborative Solutions
- 23. ENHANCES EDUCATIONAL OUTCOMES • Improves timely completion of students graduating with degrees and certifications • Enhances opportunities for experiential engagement with regional economic drivers