- The Washington Times - Tuesday, December 5, 2006

BALTIMORE (AP) — William Polk Carey donated $50 million to Johns Hopkins University, and the college will establish business and education schools with the gift, the university announced late Monday.

The W.P. Carey Foundation gift is the largest ever to Hopkins for business education. The Carey Business School and the School of Education will start operating Jan. 1, the university said. Mr. Carey is a trustee emeritus of Hopkins.

The business school will add a five-year bachelor’s-MBA program.

“The key to future economic growth is quality business education, and this school will be dedicated to producing our country’s next generation of business leaders,” the university quoted Mr. Carey as saying, adding that the establishment of a business school at Johns Hopkins had been a dream of his for more than 50 years.

“More than a century ago, Johns Hopkins University forever broke the mold in American medical and graduate education, establishing revolu- tionary new approaches that remain central even today to the preparation of physicians and scholars,” university President William R. Brody said. “Bill Carey’s generosity makes it possible for Johns Hopkins to break the mold again, this time in the education of our nation’s leaders in finance, industry and entrepreneurship.”

The new school is named for Mr. Carey’s great-great-great grandfather, James Carey, an 18th and 19th century Baltimore shipper and member of Baltimore’s first city council.

Hopkins says it will raise another $50 million for the business school and will begin a national search for a dean, Mr. Brody said. Ralph Fessler, dean of the School of Professional Studies in Business and Education, will head the education school.

This is Mr. Carey’s second funding of a business school. In 2003, he donated $50 million to Arizona State University to establish W.P. Carey School of Business there.

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