Miami University in Oxford, Ohio, has announced a $30 million gift from the Farmer Family Foundation for a new business school building and to bolster its endowment.

The gift — the largest donation in the history of the university and one of the largest ever made to a public university in Ohio — includes $25 million toward a new building for Miami's existing business school and a $5 million challenge grant to support an endowment to help recruit top business faculty. University officials hope the new building, expected to cost about $50 million and to open by 2008, will help boost the Richard T. Farmer School of Business into the top tier of business schools in the nation.

"My family and I are delighted to continue our support of Miami University and are proud to be associated with one of the top educational institutions in the country," said Richard Farmer, chairman of business apparel manufacturer Cintas Corp. and founder of the Cincinnati-based Farmer Family Foundation. "We are passionate about the importance of a good education and welcome the opportunity to provide resources that inspire and guide our future business leaders."