Updated: 09/03/2014 11:15 AM
Created: 09/03/2014 8:08 AM KAALtv.com
MINNEAPOLIS (AP) - The University of Minnesota will receive $25 million in donations and sponsorships from Land O'Lakes to support academic and athletic programs.
The Arden Hills-based cooperative announced the commitment Tuesday. The university will host Land O'Lakes leaders during an event Wednesday to celebrate the donation.
The company says $15 million of the commitment will fund a new 60,000-square-foot athletic center. Land O'Lakes will have naming rights and it's expected to open in 2016.
The donation will also fund programs in departments and colleges including the food and agriculture college, management school and science and engineering college. The company says the money will be provided from 2015 through 2024.
University of Minnesota President Eric Kaler says partnerships with local businesses are key for students' success and for the state's economy.