“It’s a tremendous initiative, but it’s in its infancy,” she said. “It (links) the Broad College to the Lansing region … to engage with local companies.”

Demmer Corp. CEO Bill Demmer said the gift was presented to MSU to honor the entrepreneur spirit of his parents, who founded the company, and to inspire others within the region to invest locally.

The company specializes in supplying components for defense, aerospace and automotive industries, among others, according to its website.

“(We wanted) to help unleash the intellectual capacity and energy of the university into the region’s business community,” Demmer said.

Broad College of Business professor Shawnee Vickery said business leaders would have additional one-on-one, personal access to the university through the new center.

The new center will be located in the James B. Henry Center for Executive Development, located near Forest Akers Golf Course and the University Club. Spaces within the Henry Center are expected to be renovated with a portion of the funding, Vickery said.

Learning skills, such as focusing on growing a business and maintaining efficiency during manufacturing processes, are slated to be centerpieces of the new center, Vickery said.

“We want to be a high-profile point of entry to the high expertise at the business schools,” she said.

The $5 million in funding will be used to pay students to work at the center, support smaller businesses that might not be able to afford a seminar at the center, and pay a managing director — who is expected to be chosen in February following a national search — and the faculty director, Vickery herself.

Finance junior Blake Joh said he welcomes additional learning experiences college officials plan to offer in the future.

“So much of the curriculum is theoretical, and having this opportunity to take the foundation that we’ve learned within these classes and apply that in real-world situations puts a whole new spin on education,” he said.