The University of Louisville has announced a $10 million gift from local businessman J.D. Nichols in support of the university's highest priorities.

To be paid out over three to five years, the funds will be used at the discretion of UofL president James Ramsey. In recognition of the gift, an office complex being developed to house entrepreneurs, innovators, accelerators, researchers, and corporations will be named the J.D. Nichols Campus for Innovation and Entrepreneurship.

Nichols, a Louisville native and 1964 graduate of the university's Louis D. Brandeis School of Law, is chairman of local real estate development firm NTS Corp. and has served on UofL's board of trustees.

"Education is the key to the continued growth and success of our community," said Nichols. "For some time, I've wanted to do something that would impact UofL students, faculty, and this community. This gift is the result of conversations that began at the start of the university’s recently completed $1 billion capital campaign."