OSWEGO — A North Syracuse-based research and development company Tuesday contributed a $1 million endowed professorship to the SUNY Oswego engineering department, which officials say is part of an ongoing partnership between the university and the company to educate and employ students in STEM fields.
SRC Inc., which focuses on “electronic warfare and intelligence production,” established an endowed professorship to help the institution attract world-class faculty to contribute “world class facilities” for research and a robust network of alumni, students, faculty and employers in the region, according to SUNY Oswego President Deborah Stanley.
“SRC is here to help us and to help the idea of engineering and innovation of the future that our country needs so much to be competitive,” Stanley said at Tuesday morning’s announcement of the donation at the Richard S. Shineman Center for Science, Engineering and Innovation.
The $1 million endowed professorship builds on a 2016 gift from SRC of $100,000 that established an endowed scholarship for business students and engineering students. Stanley noted that the research company’s long-term investment in the university shows it is a partner of higher education “for the long run.”
“SRC’s support for an endowed professorship at SUNY Oswego exhibits the organization’s confidence in our engineering program and its commitment to programmatic growth, improvement and success,” Stanley said from the podium. “Their support is a testament to our shared interest in advancing the field and educating forward-thinking engineers. The college community is grateful for SRC’s investment, and for continuing our partnership that will propel our region and society in the future.”
Stanley said the company first approached the college to form a partnership beginning with an MBA program in the business school in 2014. Four years ago, SRC established four endowed scholarships at SUNY Oswego for business and engineering students to support the future of STEM and entrepreneurial training at the university.
“That partnership has to happen mentally first, where we really respect each other,” Stanley said Tuesday.
SCR CEO Paul Tremont said the programs his company supports in higher education help it to maintain its mission to “keep American and its allies safe and strong,” by recruiting and maintaining a qualified work force.
“To continue to be successful, we need engineers who understand technology and how to apply critical thinking,” he said. “We believe the endowed professorship will attract the brightest minds to [central New York], which will help us grow a strong workforce for the future. We’re excited to expand our partnership with SUNY Oswego and appreciate President Stanley’s support.”
The latest contribution from SRC will pay off in the long run by bolstering one of the institution’s most vital sources of income — the $41 million endowment. Comprised of public and private equity investment, the endowment is comprised of funds that expand with a growing economy and pay off over time.