Scoop: Waltons launching STEM university in former Walmart headquarters
Heirs of Walmart founder Sam Walton plan to launch a private university focused on science and tech — located on the company's old HQ campus near downtown Bentonville.
Why it matters: The future university would provide students pathways to jobs in automation, logistics, biotech and computing — fields crucial to Northwest Arkansas' future. Building talent in those areas is a priority for the U.S., China and other countries racing to compete in the global economy.
Of 15,400 active area job listings in February, roughly 10% were STEM-related (science, technology, engineering and math), according to data from the Northwest Arkansas Council.
State of play: Sam Walton's grandsons Steuart and Tom Walton are set to announce the school Thursday at the Heartland Summit in Bentonville, an invitation-only gathering of policymakers, entrepreneurs and investors focused on economic development in the middle of the U.S.
Plans call for the yet-to-be-named STEM school to be a model of modern, flexible learning emphasizing business.
The inaugural class is expected to be roughly 500 students, eventually growing to about 1,500.
What they're saying:"We have the opportunity to build a new model of higher education, designed for the realities of today's economy and the challenges of tomorrow, and set a new standard for what's possible," Steuart Walton said in a news release shared with Axios.
The big picture: The university is the latest in a string of philanthropic work from the Waltons that continues transforming this town of about 60,000 people and the larger Northwest Arkansas region of nearly 600,000 into a regional powerhouse.
In the past 20 years family members have invested in world-class art museums, a medical school and holistic wellness, as well as trails, public art and other civic-oriented development. All have been economic engines for Arkansas.
Flashback: Walmart's original home office campus is being vacated in phases as nearly 15,000 employees populate a new flagship 350-acre campus across town.
Steuart and Tom Walton said in 2022 they would buy the old HQ and surrounding parcels for about $60 million.
A mixed-use development, which would include the new university, is now planned at the site.
The grandsons acquired nearly 3,000 acres of mostly undeveloped land in nearby Bella Vista last year. They've not announced plans for the parcels but said they would be centered on outdoor recreation, hospitality and retail development.
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