Dillard family gives $10 million to University of Arkansas building campaign

The Sam M. Walton College of Business at the University of Arkansas has received $10 million from the Dillard family to support a $40 million campaign to build a 100,000-square-foot academic building. The UA Board of Trustees approved Thursday (May 21) naming the building in honor of the family.

Mandy and Bill Dillard II Hall will sit at the corner of North Harmon Avenue and West Fairview Street, adjacent to the Donald W. Reynolds Center for Enterprise Development and across from the Harmon Avenue Parking Garage.

The new building is expected to accommodate growth at Walton College. A construction timeline has yet to be set, but the UA aimed to raise $25 million by 2027 and $40 million by the time the building is completed. So far, the UA has raised $27.2 million in the campaign.

“Mandy and I are deeply honored to support the Walton College at such a pivotal moment in its history,” William “Bill” Dillard II said. “Arkansas has given our family and our company every opportunity to grow and succeed, and we believe strongly in investing back into the people and institutions that make this state exceptional. The students who walk through these doors represent the future of business in Arkansas and beyond. If this building helps create an environment where they can think bigger, work harder and lead with integrity, then it is an investment well made.”

Dillard II, who graduated from the UA’s business college in 1966, is CEO of Little Rock-based retailer Dillard’s Inc. The company’s net income in the first 13 weeks of the fiscal year ending May 2 rose to $250.6 million from $163.8 million in the same period last year. Revenue increased to $1.58 billion from $1.54 billion. The company operates 272 Dillard’s stores, including 28 clearance centers, spanning 30 states.

“The Dillard family has helped make Walton College one of the top business schools in the nation, and Dillard Hall is a fitting reflection of that legacy as the college experiences remarkable growth and expands its impact across Arkansas and beyond,” said Chancellor Charles Robinson. “We are grateful to Mandy and Bill Dillard II for their unwavering commitment to our students and their decades of support for the University of Arkansas.”

The university’s business college will celebrate its 100th year in the 2026-27 academic year, and its website includes a page dedicated to the celebration and its growth.

This fall, more than 10,300 students enrolled at Walton College, about one-third of UA’s enrollment. This is an increase of more than 50% since 2020.

“In response to this growth, demand for modern, flexible learning spaces as well as student collaboration space has increased significantly,” the website shows. “In the 2024-25 academic year, hundreds of Walton College classes were taught in buildings outside of the main business building complex.”

The new building will add about 1,600 new classroom seats and bring most Walton College classes together in one area alongside the main Business Building, Walker Hall and the Reynolds Center. This consolidation frees up classroom space across campus for other departments and allows for greater scheduling flexibility. The new building will also add about 600-700 seats in study, collaboration and gathering areas.

The website shows the building will have five floors. The ground floor will include the McMillon Innovation Studio, collaboration space and a café, according to early prototypes. Floor two will offer a tech room and three classrooms. The third and fourth floors will host 10 classroom spaces, including two lecture halls, according to drawings. And the top floor will include four more classrooms and a meeting room.

“This building represents more than just additional space,” said Brent Williams, dean of the Walton College. “It’s an investment in our students’ future and a testament to the kind of business leadership we hope to develop here. Having the Dillard name on this building connects our students to that legacy every day.”

The late William Dillard, father of William Dillard II, started Dillard’s in 1938 with $8,000 and a single store in Nashville (Howard County). William Dillard II started working part-time in his father’s retail business while he was still in school. He began his career at Dillard’s in 1967 and joined the company’s board of directors that year. He succeeded his father as CEO in 1998 and was named chair of the company in 2002. He serves on the boards of directors of Barnes & Noble Inc. and Acxiom Corp.

He was inducted into the Arkansas Business Hall of Fame in 2016. His father, who graduated from the UA’s business college in 1935, was inducted into the Hall of Fame as part of the inaugural class in 1999.