Center for Equine Business Studies - Texas A&M University





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FOR IMMEDIATE RELEASE

Contact:
Julie Bryant, (817) 443-0686, julie@golatigo.com

June 28, 2006

Charitable Trust Will Fund Equine Business Studies at Texas A&M

(College Station, Texas) - Proceeds from a charitable trust at the Texas A&M Foundation will assist in funding the Jocelyn L. and Joe R. Straus Jr. '50 Professorship in Equine Business Studies at Texas A&M University.

Joe R. Straus Jr., member of the Class of 1950, and his wife, Jocelyn L. Straus, have named the Texas A&M Foundation as the beneficiary of their charitable remainder unitrust. The gift, valued at $500,000, will be used to assist in funding a faculty member in the department of agricultural economics, part of the College of Agriculture and Life Sciences. Primary research activities will involve investigating the economic impact of the equine industry, as well as teaching, service and professional development.

"Just looking at what's shaping up around the country, we need young people coming into the business from a management standpoint," said Straus, who earned a degree in animal husbandry while at Texas A&M.

Horse ownership has increased the past decade, he said, and it's becoming more important for business managers to enter the industry.

"Horse farms are pretty specialized, and there's various aspects of the business where we need young people being taught the techniques on how to manage the equine industry," Straus said.

Some of the initial research could investigate integrated horse farms, Straus said, where breeding operations cater to both the race horse and pleasure riding sectors.

"This will be a great catalyst in developing research and educational programs addressing both operational and strategic issues facing the equine sector of the economy," said Dr. John Nichols, interim head of the department of agricultural economics at Texas A&M. "It's a great fit in our emerging rural entrepreneurship program and ongoing industry studies."

Educational programs will help prepare students for business and management careers in different areas, including farm and race track segments. Research would also be part of the proposed Center for Equine Business Studies at Texas A&M.

"This positions Texas A&M Agriculture to provide cutting-edge research and educational outreach to the already fast-growing horse industry," said Dr. Elsa Murano, vice chancellor and dean of agriculture and life sciences at Texas A&M. "Benchmark research data will be created to better understand the economic impact of the industry in Texas and nationwide, as well as educate students who are the industry's future business leaders, whether it be on the farm or for large companies."

Straus is chairman of Retama Entertainment Group in San Antonio. He served on the Texas A&M Target 2000 committee and spearheaded efforts for the Texas Veterinary Diagnostic Laboratory to serve as the lead agency to test competition race horses.

Writer: Blair Fannin