LOGAN — A $50 million gift to Utah State University will be used to launch the Center for Growth and Opportunity and expand the highly selective Huntsman Scholar Program. The donation was a joint effort of the Huntsman Foundation and the Charles Koch Foundation.

The gift, the largest in university history, was announced during Saturday's convocation for USU's Jon M. Huntsman School of Business.

“This gift will be transformational for the Huntsman School, and I am grateful for the direct benefits it will provide for our students,” USU President Noelle Cockett said in a statement.

“It represents a tremendous expansion of opportunities for students through direct scholarships and enhanced program offerings.”

The gift will be used to expand and enhance the Huntsman Scholar Program, which brings together top students with leading educators for a rigorous, one-of-a-kind undergraduate business education program.

The program keys on academic discipline and mentoring to help students develop a solid understanding of financial markets and business enterprise. Huntsman Scholars also benefit from international travel to experience foreign markets.

The Center for Growth and Opportunity will advance scientific understanding of the interaction between individuals, business and government to develop solutions to important problems through economic research and student engagement, the university said in a news release.

Activities will include scholarly research, conferences, seminars, workshops, visiting speakers and student career exploration. The center will also fund scholarships and fellowships.

Douglas D. Anderson, dean of the Huntsman School, said the gifts will enable the school to provide rigorous educational opportunities to more undergraduate and graduate students in and outside of traditional academic settings.

“Jon Huntsman challenged us 10 years ago, when he made his initial gift to Utah State, to produce students who can compete with the best and brightest anywhere in the world,” Anderson said in a statement. “We have been on quite a journey since then, and I am so thrilled that he and his friend Charles Koch believe in what we have done and in what we can become.”

The new initiatives will make available scholarships, opportunities to explore new ideas, and interact with dynamic faculty, alumni and business professionals to about 500 students.

Jon Huntsman, in a statement, said he has been observing USU for 50 years, "and this is the finest college in America.”

“I didn’t go to school there, but I recognize it as the institution where I would go today if I had to select the best university," Huntsman said. "So when the opportunity arose to partner with my good friend Charles Koch to benefit future generations of students at Utah State, we immediately took it.”

Brian Hooks, president of the Charles Koch Foundation, concurred: “We’re excited about the university’s vision to support the students and world-class faculty at Utah State University, and it’s an honor to join Jon Huntsman and his family on this innovative project.”