CHAPEL HILL, N.C. (WNCN) – Thursday was a great day to be a Tar Heel, according to the UNC Chacellor, Kevin Guskiewicz.

The school held a groundbreaking for a new expansion for the schools business program.

UNC Kenan-Flagler Business School held the groundbreaking at 10 a.m. in front of the McColl building—in front of a crowd of hundreds of students, faculty, staff, and alum.

Chacellor Guskiewiycz spoke about how this expansion will help with their enrollment.

“Today is a special day for us… through this groundbreaking ceremony at Kenan-Flagler. The new Steven D. Bell Hall we’ll be able to double the size of our undergraduate class in the business school,” he said.

This new building would allow for a 50 percent increase in the years to come. Enrollment for the fall was just over 3400; that number would double in the next three-to-four years.

The new “Steven D. Bell” building was a $25 million pledge from Mr. Bell himself, to support UNC’s business school. He called it a great investment for both the people and real estate.  

“North Carolina is a growing state and we have a responsibility to be able to provide future leaders and business for the state of North Carolina to help drive the economy,” Guskiewicz said.

The new building and McColl building renovations will cost $150 million combined. It makes way for more classrooms, more space for teamwork, enhanced technology and more.

Keynote speaker Jamie Dimon, chairman and CEO of JP Morgan Chase & Co., spoke on what important lessons the classroom teaches future entrepreneurs.

“I think these universities are unbelievable places of innovation, growth, teaching. They’re one of the foundation for Americans. I’m thrilled to be here and we’re expanding dramatically here in North Carolina,” Dimon said.

Construction will begin in late November of 2022 and is projected to be completed by the end of 2024.