Miami University in Oxford, Ohio, has announced a $40 million gift from alumni and longtime supporters Richard "Dick" and Joyce Farmer and the Farmer Family Foundation in support of its business school.

The largest single gift in the 207-year history of the university will support all areas of the Farmer School of Business, including faculty, students, emerging programs, and curricula enhancements. In 1992, the Farmers provided the lead gift to the School of Business, and in 2005 the Farmer Family Foundation was the lead donor to a campaign supporting construction of its new building.

After graduating from Miami University in 1956 with a degree in business, Dick Farmer served in the U.S. Marine Corps and then joined the family business. He left the company in 1968 to start what would become Cintas Corp., from which he retired as CEO and chairman in 2009. Joyce Barnes Farmer earned a bachelor's degree in elementary education from Miami in 1957. Both Farmers have served Miami University and the Farmer School of Business in volunteer leadership roles.

"The incredible commitment and generosity the Farmers have to their alma mater speaks volumes," said Miami University president Gregory P. Crawford. "It's this type of vision and leadership that will position Miami at the forefront in groundbreaking programs and solutions that enable all students to excel in the fast-changing global economy."