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Office Depot Announces $4.5 Million Contribution to Higher Education
February 2, 2006
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Delray Beach, Fla. -- Office Depot (NYSE:ODP), a leading global provider of office products and services, is contributing $4.5 million to support three South Florida universities and two national nonprofit organizations that promote opportunities for students of diverse racial and ethnic backgrounds.

Office Depot's Education and Diversity Partnership Program includes:

  • A contribution of $2 million to Florida Atlantic University (FAU), based in Boca Raton, Fla., for construction of a new Center for Executive Education in the College of Business. The gift will generate an additional $2 million in state matching funds for FAU. The building will be named in Office Depot's honor.
  • A contribution of $1 million to Florida International University (FIU) in Miami, Fla., to support the University's "Building for Business" campaign for construction of a new College of Business Administration complex. The gift will generate an additional $1 million in state matching funds for FIU. The student commons area in the new complex will be named in recognition of Office Depot.
  • A contribution of $500,000 to the University of Miami (UM) in Coral Gables, Fla., to establish the Office Depot Innovation Laboratory within the Anthony Burns Center for Advanced Supply Chain Management in the College of Engineering's Department of Industrial Engineering.
  • A contribution of $500,000 to the United Negro College Fund (UNCF) to support member institutions, scholarships, the 2006 UNCF Professional Development Institute in Atlanta and other programs.
  • A contribution of $500,000 to the Hispanic Association of Colleges and Universities (HACU) to support a five-year partnership encompassing scholarships at member institutions, sponsorship of HACU's Capitol Forum in Washington, D.C., and other programs.

Commenting on Office Depot's announcement, Dr. Mark Rosenberg, Chancellor of the State University System of Florida, said, "On behalf of the Board of Governors, I commend Office Depot for its leadership and generosity to our public universities. These universities provide students with a high-quality education, and Office Depot's support will help our institutions advance their cutting-edge teaching and research agendas in business and business administration."

To deepen the partnerships, a number of senior executives at Office Depot will be invited to serve on advisory boards at each of the universities. In addition, opportunities will be created for a variety of student internships, joint research projects and other mutually beneficial projects.

 
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