Terre Haute, Indiana, August 23, 2025
News Summary
Indiana State University approved naming its construction management program the Thompson Thrift Department of Construction Management following a $1.4 million gift. The donor also pledged $1.3 million to fund paid summer internships over 15 years. The funding establishes a named classroom, a departmental program fund for experiential learning, outreach, faculty development and equipment upgrades, and supports guest lecturers and adjunct instructors from the donor’s company. Starting fall 2026, up to 10 on-campus juniors and seniors from Indiana or Illinois will be eligible for $5,000 annual scholarships, renewable for a second year. Implementation and facility renovations will be completed by fall 2026.
Indiana State University names Thompson Thrift Department of Construction Management after $1.4M gift
Lead
Indiana State University has approved naming its construction management unit the Thompson Thrift Department of Construction Management following a $1.4 million gift from Thompson Thrift. The partnership also includes a pledge of $1.3 million in paid summer internships to be delivered over the next 15 years. The university board approved the naming during an agenda meeting on July 24, and the changes are set to take effect in fall 2026.
Key details
The gift supports multiple program areas within the department, including scholarship funding, a departmental program fund for experiential learning, outreach to middle and high school students, faculty professional development, and equipment upgrades as needed. The partnership also creates a named construction management classroom that will be unveiled when renovations to the Bailey College of Engineering and Technology are complete in fall 2026.
Student support and internships
As part of the agreement, Thompson Thrift will provide $1.3 million in paid summer internships across 15 years. The internships are intended to give students practical, hands-on experience in development, construction, leasing and management projects. In addition, starting in fall 2026 junior and senior construction management students may apply for a renewable $5,000 annual scholarship. Ten on-campus students from Indiana or Illinois who have declared a construction management major will be selected for the scholarship, with the award renewable for one additional year.
Program and curricular effects
The partnership links classroom work to industry practice through planned guest lecturers and adjunct instructors from company business units, paid internships, interdisciplinary initiatives, and mentorship opportunities. Funds from the departmental program account will support outreach to younger students to promote the field, upgrade equipment, and fund faculty professional development that aligns courses with current industry needs.
Administration and implementation
University leadership described the partnership as a model of public-private collaboration designed to enhance academic quality, strengthen recruitment and retention, and prepare students for careers in a competitive field. University officials said planning and final implementation details will be worked out over the next year, with the formal changes scheduled to take effect in fall 2026 when renovations are finished.
Background on the partner
Thompson Thrift began in 1986 and evolved from a locally focused development and construction firm into a full-service real estate enterprise with a national presence. The company maintains offices in Indianapolis, Terre Haute, Denver, Houston, and Phoenix and works across development, construction, leasing and property management. Company founders started the business while they were students at the same university, giving the partnership historical ties that university advancement officials say continue today.
Workforce and community implications
The combination of scholarships, paid internships and industry-aligned instruction is positioned to funnel qualified graduates into the region’s construction and development workforce. Departmental outreach efforts aim to attract middle and high school students to construction-related careers, while faculty development and equipment investments are expected to keep classroom and lab offerings current with industry standards.
Timeline at a glance
- July 24: University board approved the naming at an agenda meeting.
- Next 12 months: University and company to finalize implementation plans.
- Fall 2026: Departmental name takes effect and the named classroom is unveiled when renovations are complete; scholarship awards begin for eligible juniors and seniors.
- 15-year period: Paid summer internships funded by the company are distributed over this term.
What the funding covers
- Direct student aid: renewable scholarships for selected on-campus students from Indiana or Illinois.
- Paid experiential learning: summer internships funded over 15 years.
- Program support: outreach, faculty development, equipment upgrades and guest lecturers/adjunct instructors.
- Physical recognition: a named classroom within the renovated engineering college space.
FAQ
Who approved the department name and when?
The university board approved the naming during an agenda meeting on July 24.
How much funding did Thompson Thrift provide?
The company provided a $1.4 million gift and pledged $1.3 million for paid summer internships over 15 years.
When do the changes take effect?
The departmental naming and program changes are scheduled to take effect in fall 2026, with a named classroom opening when renovations are complete.
Who is eligible for the scholarship?
Ten on-campus students from Indiana or Illinois with a declared construction management major will be eligible to receive a $5,000 annual scholarship, renewable for one additional year. Eligibility and selection details will be set by the department.
What do the internships cover?
The internships are paid summer positions intended to offer hands-on experience across development, construction, leasing and property management functions over a 15-year period.
How will the funds be used beyond scholarships and internships?
Funds will support experiential learning projects, outreach to middle and high school students, faculty professional development, and equipment upgrades as needed.
Key features at a glance
| Feature | Detail |
|---|---|
| Named department | Thompson Thrift Department of Construction Management |
| Gift amount | $1.4 million |
| Internship pledge | $1.3 million in paid summer internships over 15 years |
| Scholarship | 10 on-campus students from Indiana or Illinois; $5,000 annually, renewable one year; begins fall 2026 |
| Program support | Experiential learning, outreach, faculty development, equipment upgrades, guest lecturers/adjuncts |
| Timeline | Board approval July 24; implementation planning over next year; effective fall 2026 |
Deeper Dive: News & Info About This Topic
Additional Resources
- YieldPro: Department of Construction Management (Thompson Thrift / ISU)
- Wikipedia: Indiana State University
- WTHI-TV: ISU and Thompson Thrift announce multi‑million dollar partnership
- Google Search: Thompson Thrift Indiana State University
- Inside Indiana Business: Thompson Thrift donates $1.4M to ISU
- Google Scholar: Construction management internships paid summer
- My Wabash Valley: ISU announces partnership with Thompson Thrift
- Encyclopedia Britannica: Construction management
- IndyStar: Thompson Thrift returns to Central Indiana’s Top Workplaces list
- Google News: Thompson Thrift Indiana State University
Author: Construction CA News
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