Walton Family Plans New STEM University in Bentonville

Steuart Walton, left, and his brother Tom (Photos provided by America Strong and Free Inc.)

Walmart heirs and brothers Tom and Steuart Walton on Thursday announced plans for their family to launch a new higher education institution in Bentonville.

The new institution, which the brothers announced at the Heartland Summit in Bentonville, is designed to “reimagine STEM education for the next generation of innovators, builders and entrepreneurs,” according a press release announcing the university.

The project will be part of the mixed-use development planned for the former Walmart Home Office campus, where Sam Walton had his final office. The retail giant began a phased opening of its new campus in January.

The new university is being developed in collaboration with national education experts and will aim to offer a modern, flexible and accessible education model that is both STEM-focused and business-infused, according to the release.

The school expects to welcome its first undergraduate class — about 500 students — in the coming years, aiming to enroll about 1,500 undergraduates and 500 non-degree learners over time.

The release said that in its initial years of operation, tuition for the university will be fully covered in order to attract “enterprising candidates with entrepreneurial spirit.”

“Bentonville is the perfect place to spark catalytic change — a community rooted in innovation, entrepreneurship and bold thinking,” Steuart Walton said in the release. “We have the opportunity to build a new model of higher education, designed for the realities of today’s economy and the challenges of tomorrow, and set a new standard for what’s possible.”

Though early in development, the release said that the university’s planners are committed to ensuring the institution contributes meaningfully to the region’s broader educational and economic landscape. The school will offer stackable, flexible credentials aligned with in-demand fields such as computing, technical management, automation and logistics and biomedical technology.

“The creation of a new STEM-focused university in Bentonville represents a bold step to strengthen our region’s innovation capacity and deepen our workforce,” Ross DeVol, chairman and CEO of Heartland Forward, said in the release. “By embedding technology transfer and commercialization into the very fabric of the institution, we can accelerate the movement of ideas from the lab to the marketplace, drive economic growth across the Heartland, and create new opportunities for entrepreneurs and industries of the future.”

The release said more information about the project will be shared in the coming months. The project’s planners will be engaging with state and local officials, community members, educators and institutional partners, including the University of Arkansas, as plans take shape.