Groundbreaking Ceremony for New $227 Million Building at UT College of Business Marks a Major Expansion

KNOXVILLE, Tenn. – New Beginnings at UT College of Business

On a sunny Wednesday, August 21, 2024, groundbreaking ceremonies kicked off the construction of a new $227 million building on the University of Tennessee, Knoxville campus. This significant project is an addition to the Haslam College of Business and is set to open its doors in the fall of 2027. Once completed, the building will cover 243,800 square feet and is designed to accommodate more than 10,000 students.

Facilities and Features

The new structure will include 18 classrooms, three research laboratories, and two auditoriums with seating for 300 people each. Additionally, there will be various meeting spaces, a food service option, and office areas, creating a versatile environment for students and faculty alike. This building will be conveniently located across Volunteer Boulevard from the existing Haslam Business Building and the Stokely Management Center, situated where the former Dunford, Greve, and Henson Halls once stood.

Growth in Enrollment

The decision to build this new facility comes as the Haslam College of Business has experienced remarkable growth. Over the last decade, undergraduate enrollment has skyrocketed by more than 100%, with the college now boasting over 9,000 undergraduate students. This surge in enrollment makes it the largest college at the University of Tennessee by undergraduate numbers. Furthermore, the master’s program has also seen a 35% increase in enrollment over the past five years.

Recognition and Impact

In terms of academic excellence, the Haslam College of Business was recognized by the Financial Times, ranking No. 24 among business schools worldwide in 2024. Such accolades not only highlight the quality of education offered but also reflect the need for expanded facilities to cater to the growing student body.

Chancellor’s Statement

Chancellor Donde Plowman expressed enthusiasm for the new building, stating, “This new building is a part of a physical transformation happening across campus — a transformation that reflects the progress we’re seeing across our university.” Plowman continued, highlighting the increasing demand for education at UT, saying, “More students than ever want to be Volunteers. Because of the innovative and wide-ranging support they receive on campus, more students are earning their degrees — and that is great news, because more UT graduates is good for the state, good for business, and good for people.”

Conclusion

The construction of this new building marks a crucial step towards enhancing the educational experience at the University of Tennessee, Knoxville. As enrollment continues to rise and the college aims to maintain its high academic standards, the completion of this new facility will undoubtedly play an essential role in shaping the future of the Haslam College of Business and its students.