Olds College has received a record $16 million donation to create the Werklund Agriculture Institute to specialize in smart and sustainable agriculture and business solutions.

Calgary oilman and philanthropist David Werklund and his partner, Susan Norman, have provided a tiered donation with a total cumulative impact of $32 million when all leverage opportunities are realized.

The donation begins with $2 million cash supplemented by a matching component in which Werklund will provide one dollar for every dollar raised up to $4 million. The final portion is a $10 million estate gift that will ensure sustainability of the institute over time.

Werklund, who grew up on a farm near Valleyview, wanted to give something back to agriculture with a focus on 21st century innovations. He is also an admirer of the work ethic developed among farmers.

-courtesy Western Producer