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Purdue plans a new business school, doubling the size of the building and expanding enrollment.

WEST LAFAYETTE — Purdue University plans to transform its current school of business into a new business school, doubling the size of the existing building and expanding faculty and student enrollment.

Purdue announced on Friday that it would be investing “significantly” in the effort, though specific amounts were not immediately disclosed. The university is also planning a major fundraiser with his $10 million donation from alumni Marshall Larsen and his wife Susan.

According to Purdue, the new school aims to “build tomorrow’s leaders and entrepreneurs on the hallmarks of Purdue education, such as STEM disciplines and business analytics.”

“Students at Purdue’s new School of Business will receive a balanced education that includes a foundation in history, philosophy, economic theory of free market systems, and the liberal arts and accompanying communication skills,” Daniels wrote. He said: “They will enter the world proud of the careers they have chosen and thoroughly prepared for leadership and operational excellence in the most technologically complex areas.”

The Purdue School of Business has grown nearly 33% since 2019, and the university says it wants to capitalize on that momentum as college enrollment rates decline across the country.

The new school will build on the success of integrated business and engineering degrees, a business analytics program, a new Dean V. White real estate finance program, and the Larsen Leaders Academy, which the Larsens made a significant contribution to establish.

The new school will initially be known as the Purdue Business School, according to the university, but it wasn’t immediately clear if the graduate school would keep the Krannert name.

Purdue plans to launch its first phase of enhancements in the fall of 2023, including increasing student enrollment and adding faculty and staff.

No timeline was provided for the construction of the school building extension.

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