Historic Gift to Support Innovation, Education, and Industry Collaboration in Construction Management
Indiana State University and Thompson Thrift, a nationally recognized leader in the real estate industry, have announced a groundbreaking partnership that includes a $1.4M gift to the University. During their agenda meeting, the Board of Trustees approved the naming of the Thompson Thrift Department of Construction Management in the Bailey College of Engineering and Technology.
This partnership reflects both institutions’ shared commitment to excellence, innovation, and community impact, setting a new standard for collaboration between higher education and industry. In addition to the gift to the University, Thompson Thrift is providing $1.3M in paid summer internships over the next fifteen years to qualified students majoring in construction management.
“This partnership exemplifies Indiana State’s commitment to forging innovative, high-impact alliances that elevate academic excellence and professional readiness,” said Mike Godard, President of Indiana State University. “It stands as a model for how public-private collaboration can enrich higher education, demonstrating the transformative potential when universities and industry leaders unite with a shared vision. Through the integration of experiential learning, professional mentorship, and industry-aligned curricula, we are equipping our students for meaningful careers in a competitive field. Beyond these direct benefits, this collaboration strengthens recruitment, enhances retention, and boosts the university’s reputation, both within the Thompson Thrift Department of Construction Management and across our campus. We are deeply grateful to John Thompson and Paul Thrift for their leadership, generosity, and belief in the power of partnership to shape the future of the next generation of our educated workforce.”
The newly named Thompson Thrift Department of Construction Management will benefit from scholarship support, internships, and new interdisciplinary initiatives that bridge education with industry practice. The department will host guest lecturers and adjunct professors from various business units within Thompson Thrift to provide students with real-world perspectives.
“Partnering with Indiana State University aligns perfectly with our mission to positively impact our team members and the communities we serve,” said John Thompson, CEO of Thompson Thrift Construction. “By investing in the next generation of construction leaders, we’re building a foundation for a more innovative and resilient future.”
Beginning in the fall 2026 academic year, junior and senior students majoring in construction management will have the opportunity to earn a $5,000 annual scholarship, renewable for one year, as an outcome of this partnership. Scholarships will be given to ten students from Indiana or Illinois who are on-campus students with a declared major in construction management. In addition, the gift supports the departmental program fund, which provides experiential learning opportunities to students, outreach to middle and high school students, faculty professional development, and equipment upgrades as needed.
Thompson Thrift’s longstanding connection to Indiana State University is reflected in its team members, with 15% of the Thompson Thrift team counted among Indiana State University alumni, including co-founders and CEOs Paul Thrift and John Thompson, both honored as 2022 recipients of the University’s Distinguished Alumni Award.
“The University’s connection to Thompson Thrift began when John Thompson and Paul Thrift started their company as students at Indiana State,” said Andrea Angel, Vice President of University Advancement and CEO of the Indiana State University Foundation. “The partnership continues this legacy and provides a framework of how business and industry can partner in meaningful ways with higher education.”
The gift also establishes a named construction management classroom for Thompson Thrift, which will be unveiled at a ceremony recognizing this commitment upon completion of the Bailey College of Engineering and Technology renovations in the fall of 2026.