
Arkansas State University announced Tuesday that it received a gift of more than $450,000 to support its trading program, which was jointly developed by the university’s College of Agriculture and Neil Griffin College of Business.
Alumnus and Arkansas native J.B. Penn made the donation, which will be held by the Arkansas State University System Foundation.
Penn earned his Bachelor of Science in Agriculture from A-State before completing advanced degrees in agricultural economics at Louisiana State University and Purdue University. His career spanned nearly five decades in agriculture, including serving as undersecretary for farm and foreign agricultural services at the U.S. Department of Agriculture and providing strategic leadership at Deere & Co. He currently operates a farm in Lawrence County.
The donation aims to enhance a hands-on initiative that provides students with real-world experience in financial markets. The funds will be used for investments proposed by students, allowing them to apply their skills in futures and commodities trading.
“This gift reflects my belief in the importance of equipping students with an understanding of how financial markets influence business operations,” Penn, who was the chief economist at at Deere & Co prior to retirement, said in a press release. “The hands-on experience gained through this program is invaluable for their future success.”
Through the trading platform, students will define investment goals, evaluate risks and present recommendations for real-world execution by the foundation. The returns generated will support scholarships, internships, travel and research opportunities for agriculture students.
The program will utilize the university’s Dawson Capital Markets Lab in the Griffin College of Business, which features technology for tracking and analyzing financial markets.
“The College of Agriculture emphasizes beyond the classroom experiences and the Penn Trading program exemplifies that commitment,” Mickey LaTour, dean of the College of Agriculture, said in the release. “We believe that expertise in futures trading will set our students apart from their peers. We are deeply grateful for Penn’s generous gift which supports this unique initiative and advances our mission to prepare students for leadership in agriculture.”
Jim Washam, dean of the Griffin College of Business, said in the release that the two colleges were a natural fit for the program, considering “the importance of agricultural business to the regional economy.”