The new Center for Economic and Entrepreneurial Development will be located inside the university's Arthur J. Bauernfeind College of Business.
A statement from the university says the center will work to help business and entrepreneurs start and expand their operations, with the goal of creating jobs and growing economic development in the region.
The center will also help students find internship opportunities and jobs after graduating.
David Eaton, the interim dean of the business college, says the center will "provide both learning opportunities for our students and research and growth opportunities for communities and businesses in our region."
