“Since our founding, we have invested more than 40 million euros in private funds in the expansion and renewal of our campus and, in particular, of the former State Council building. We are grateful for this first-time government funding, which will greatly help us to finance the modernization measures,” says Georg Garlichs, managing director and CFO of ESMT. “This support shows the German government’s appreciation for our work and our role as a leading business university in Germany.” The remainder of the estimated total costs of 14 million euros for the final restoration of the former State Council building will be covered by donations.

The current funding approval is an important step towards completing the modernization of the remaining areas of the building and creating new spaces for teaching, research, and events. On the first floor of the wing that has not yet been restored, ESMT will instate the President George H.W. Bush Reunification Suite to commemorate his key role in German reunification. Once the construction work has been completed, the rooms will once again be open to the public, e.g. through public tours and ESMT’s participation in the European Heritage Days.