Walton-backed university planned for former Walmart Home Office

Tom Walton and Steuart Walton said Thursday (May 8) that their family will establish a university as part of a mixed-use development planned for the former Walmart Home Office site at Eighth Street and Walton Boulevard in Bentonville.

They announced the Walton-backed university at the Heartland Summit in Bentonville. Tom Walton and Steuart Walton are the grandsons of Walmart founders Helen and Sam Walton.

According to a news release, the new university is expected to “reimagine STEM education for the next generation of innovators, builders and entrepreneurs.” STEM comprises science, technology, engineering and math. The university is being developed in collaboration with national educators and will offer “a modern, flexible, and accessible model that is both STEM-focused and business-infused.”

“Bentonville is the perfect place to spark catalytic change — a community rooted in innovation, entrepreneurship and bold thinking,” Steuart Walton said. “We have the opportunity to build a new model of higher education, designed for the realities of today’s economy and the challenges of tomorrow, and set a new standard for what’s possible.”

The school is expected to welcome its first undergraduate class of about 500 students “in the coming years,” according to the release. Over time, class sizes are expected to grow to about 1,500 undergraduate students and 500 non-degree students. Tuition will initially be “fully covered to help attract enterprising candidates with entrepreneurial spirit,” the release shows.

“Universities are among the most important knowledge assets for cities and states, shaping the economic prospects of their regions and the nation overall,” said Ross DeVol, chairman of the board and CEO of Heartland Forward. “The creation of a new STEM-focused university in Bentonville represents a bold step to strengthen our region’s innovation capacity and deepen our workforce. By embedding technology transfer and commercialization into the very fabric of the institution, we can accelerate the movement of ideas from the lab to the marketplace, drive economic growth across the heartland, and create new opportunities for entrepreneurs and industries of the future.”

According to the release, the university is in the early stages of development and will offer “stackable, flexible credentials aligned with fast-moving, in-demand fields such as computing, technical management, automation, logistics, and biomedical technology.”

“We’re proud to see this site – so full of history – take on new life as a center for innovation and learning,” said Donna Morris, chief people officer at Walmart. “We believe it’s a fitting tribute to the entrepreneurial legacy of Sam Walton.”

More information is expected to be released in the coming months. University planners will continue to listen to and engage with state and area officials, community members, educators and institutional partners, including the University of Arkansas, as plans take shape.