Lockheed Martin (NYSE: LMT) has signed a $3 million charitable commitment to the University of Maryland A. James Clark School of Engineering.
The three-year contribution will fund vertical takeoff and landing research conducted at the university's rotorcraft lab, and high-speed flight experiments up to Mach 8, or 6,000 mph, at the school's hypersonic wind tunnel. It will also underwrite programs overseen by the Clark School's Center for Minorities in Science and Engineering that aim to increase the enrollment of women and under-represented minorities in Science, Technology, Engineering and Math (STEM) disciplines.
Since 2010, Lockheed Martin has funded more than $19 million in research and philanthropy at the University of Maryland. The $3 million contribution announced today is in addition to that investment. Earlier this year, Lockheed Martin awarded scholarships to nine University of Maryland students pursuing majors in engineering or computer science as part of its new STEM Scholarship Program. The students will receive up to $40,000 in total scholarship funding, or $10,000 per school year, from Lockheed Martin, and they are eligible for paid Lockheed Martin internships.
Lockheed Martin's partnership with the University of Maryland dates back to 1944 when Glenn L. Martin funded four buildings, including the Glenn L. Martin Wind Tunnel and Glenn L. Martin Hall. Today, Lockheed Martin employs more than 600 University of Maryland graduates holding nearly 700 degrees, and it has a formal collaboration agreement in place with the school to research, develop and design advanced technology systems, products and services.
Darryll J. Pines, Clark School Dean and Farvardin Professor, said that for 75 years, Lockheed Martin has played a significant role in the storied history of the A. James Clark School of Engineering and the school is proud to continue this relationship as the recipient of Lockheed Martin's largest gift of the year to any institution. This generous gift will empower Clark School students and faculty to remain at the forefront of innovation in aerospace technology and to advance the department's commitment to a diverse and inclusive engineering community.
Lockheed Martin CTO Keoki Jackson noted that Lockheed Martin has partnered with the University of Maryland for more than seven decades and the company is proud to continue that successful relationship with this contribution supporting aerospace innovation. Lockheed Martin expects to hire 50,000 STEM professionals over the next decade, and together, the next generation of engineers will be inspired to join the firm in creating breathtaking, generation-after-next technology.