The BB&T Charitable Foundation announced today (Dec. 7) the company will contribute $1,750,000 to West Virginia Universitys College of Business and Economics.

The funds will establish a BB&T Chair in Free Market Thought, enabling the college to attract a national scholar in that field and enhance the schools free market research and teaching programs.

BB&T West Virginia North Regional President Brent Robinson said the intent of the contribution is to encourage a thorough discussion of the moral foundations of capitalism.

There is overwhelming evidence that capitalism produces a higher economic standard of living,Robinson said.John Allison, our chairman and chief executive officer, passionately believes there needs to be a deeper understanding of the morality of capitalism and its causal relationship to economic well being.

We find that many students who graduate with a business degree, while understanding the technology of business, do not have a clear grasp on the moral principles underlying free markets. It is with great pleasure that we make this contribution to enhance the educational offerings of the university and look forward to seeing the successes that result from WVU s business students, not just in the next semester but in the years to follow,Robinson said.

WVU President David C. Hardesty Jr. noted,WVU’s College of Business and Economics is turning out bright, talented studentsmany who go on to become innovative entrepreneurs and leaders with a global perspective. This generous gift from BB&T will allow us to expand our current areas of emphasis to more in-depth discussions on free market thought and business morals and ethics. We are deeply grateful to Mr. Allison and Mr. Robinson and the entire BB&T team for the financial support the company is providing to help WVU attract a leader in this field and to establish a world-class program.

Stephen Sears, dean of the WVU College of Business and Economics, said,BB&Ts generosity adds strength to strength within the college by supplying the human capital we need to expand the intellectual impact of the free-market philosophy within our classrooms and in the world beyond. As dean, I am deeply grateful for the banks magnificent support and for its underlying vote of confidence in our faculty.

The WVU College of Business and Economics offers six bachelors, five masters and one doctoral degree. With an undergraduate enrollment of about 800, the college has more than 18,000 alumni worldwide.

The gift was made through the WVU Foundation, a private non-profit corporation that generates and provides support for West Virginia University.

BB&T is the nations 11th largest financial holding company with more than 29,000 employees and more than 1,400 financial centers in 11 states. BB&T operates 80 financial centers throughout West Virginia. For more information, please visit .