Tom Walton and Steuart Walton shared plans to launch a new higher education institution that will “reimagine STEM education for the next generation of innovators, builders, and entrepreneurs,” according to a press release.
The announcement was made during this year’s Heartland Summit in Bentonville, which is a gathering of leaders that focuses on advancing economic growth and opportunity across the middle of the country.
This new university will be part of a mixed-use development planned for the former Walmart Home Office and is being developed in collaboration with national education experts.
“We’re proud to see this site—so full of history—take on new life as a center for innovation and learning,” said Donna Morris, chief people officer at Walmart. “We believe it’s a fitting tribute to the entrepreneurial legacy of Sam Walton.”
The school will be a flexible, modern and accessible model that is both STEM-focused and “business-infused.”
“Bentonville is the perfect place to spark catalytic change — a community rooted in innovation, entrepreneurship and bold thinking,” Steuart Walton said. “We have the opportunity to build a new model of higher education, designed for the realities of today’s economy and the challenge of tomorrow, and set a new standard for what’s possible.”
The school will offer flexible credentials aligned with fast-moving, in-demand fields such as computing, technical management, automation and logistics, and biomedical technology.
“Universities are among the most important knowledge assets for cities and states, shaping the economic prospects of their regions and the nation overall,” said Ross DeVol, chairman of the board and CEO of Heartland Forward. “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.”
Planners expect the school to have its first undergraduate class of about 500 students in the coming years and grow to about 1,500 undergraduates and 500 non-degree learners over time. In its first years of operation, tuition will be fully covered to “help attract enterprising candidates with entrepreneurial spirit,” according to the release.
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