{"id":1659,"date":"2008-04-15T00:00:00","date_gmt":"2008-04-15T04:00:00","guid":{"rendered":"http:\/\/www.emu.edu\/blog\/news\/?p=1659"},"modified":"2008-04-15T00:00:00","modified_gmt":"2008-04-15T04:00:00","slug":"emus-valley-impact-jobs-millions-leaders","status":"publish","type":"post","link":"https:\/\/emu.edu\/now\/news\/2008\/emus-valley-impact-jobs-millions-leaders\/","title":{"rendered":"EMU’s Valley Impact: Jobs, Millions, Leaders"},"content":{"rendered":"

Business Owner, President Tout School’s Role, Future <\/h4>\n

By Dan Wright, Daily News-Record<\/p>\n

One of the things Karl Stoltzfus learned at EMU was to do the math. <\/p>\n

A statistics class taught the 1972 graduate and founder of Dynamic Aviation to mitigate risk in a high-risk business. <\/p>\n

“What’s the statistical probability of something happening?” Stoltzfus asked. “Then, how many factors can you set in place to mitigate against that happening?” <\/p>\n

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\"EMU
EMU President Loren Swartzendruber (right) and EMU graduate and founder of Dynamic Aviation Karl Stoltzfus chat after the Harrisonburg Rockingham Business & Professional Club Annual Appreciation Luncheon Friday. Photo by Michael Reilly <\/div>\n

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Stoltzfus spoke Friday to about 70 members of the Harrisonburg-Rockingham Business & Professional Club, which partners with EMU. <\/p>\n

As an example of risk mitigation, he cited the company’s decision to fly only multiengine aircraft. If one engine fails, the aircraft is capable of flying to the next airport. <\/p>\n

Read Karl Stoltzfus’ speech from the business luncheon<\/a><\/div>\n

If a single-engine aircraft loses its engine, you have what Stoltzfus calls an “off-airport emergency landing.” <\/p>\n

Stoltzfus estimates that over a 15-year period his company avoided seven to 12 off-airport emergency landings by not flying single-engine aircraft. <\/p>\n

“We fly a lot at night. We fly over the world’s most dense rain forest in southern Panama,” he said. “We don’t want an airplane flying over that terrain with one engine.” <\/p>\n

Funding Priorities <\/h3>\n

Before Stoltzfus spoke, EMU President Loren Swartzendruber<\/a> summarized some funding priorities as the university prepares to launch a capital campaign. <\/p>\n

EMU should increase annual contributions to the University Fund<\/a> by 7 percent annually over the next five years, with a goal of $1.9 million. <\/p>\n

The university’s endowment fund needs to be increased from $24 million to $40 million by 2014. <\/p>\n

“Twenty-four million dollars is too small for an institution [with an enrollment of 1,600],” Swartzendruber said. <\/p>\n

New science labs and renovation of Suter Science Center<\/a> will require $30 million in contributions and grants, he added. <\/p>\n

Renovation of the University Commons will cost $8.3 million, and an alumnus has contributed $3 million as a matching gift. <\/p>\n

Celebrating its 90th anniversary, EMU is among Harrisonburg’s top 10 employers, with a work force of 360 people. <\/p>\n

Each year, the university spends $16 million on salaries and benefits and pumps $21 million into the Shenandoah Valley’s economy. <\/p>\n

Over its 90-year history, 20,000 teachers, nurses, social workers and business leaders have graduated from EMU, Swartzendruber said. <\/p>\n

“EMU does have an economic impact on this community,” he added. <\/p>\n

EMU At A Glance <\/h3>\n