Washington Breaks Ground on New Warehime School of Business

As Construction Begins, The School’s First Class of Students Will Be Admitted This Fall.

Associate Dean of the Warehime School of Business, Caddie Putnam Rankin; Beth Warehime Rizakos '13; and Interim Washington College President Bryan Matthews ’75 M’86 P’12

Washington College embarked on a transformative new initiative this past Saturday as campus leaders, students, and alumni gathered for the groundbreaking ceremony of the new Warehime School of Business. The event, held on the future site of the state of the art facility, celebrated the College’s boldest step yet toward reimagining business education for a new era – one that blends analytical rigor, cultural fluency, ethical leadership, and hands-on experience within the framework of a liberal arts education.

The ceremony featured remarks from college leadership and the school’s primary benefactor, Elizabeth “Beth” Warehime Rizakos ’13, whose historic $15 million gift—the largest from an individual in the college's 242-year history—has made the school possible.

“Let’s meet at Warehime for the first time, hopefully many to come,” said Michael Harvey, the John S. Toll Professor of Leadership Studies, who delivered the welcome address. He noted that the new school creates a special place for the study of business and will enable continued work “in a field we see as valuable and deeply connected,” emphasizing the school’s mission of working with differences to achieve unity and to value ethics and social responsibility.

Interim President Bryan Matthews ’75 M’86 P’12 described the groundbreaking as an aggressive step toward the school’s goal of attracting new students, hailing the school as a “game changer” for the institution.

“This symbolizes the College’s heritage and bright future,” Matthews said. “Now more than ever, we need leaders who possess values, ethics, and strong character—characteristics that are hallmarks of Washington College graduates.”

Matthews also drew a connection to the College’s founding patron, noting George Washington’s own background as an entrepreneur and businessman.

“His formula for success is alive today at Washington College,” said Matthews. “We are engaged in the business of life. This is exactly what Washington and Smith imagined back in 1782.”

The Warehime School of Business is designed to offer “big school” opportunities within an intimate, interdisciplinary setting. Caddie Putnam Rankin, associate dean of the Warehime School of Business, highlighted the school’s unique ability to provide resources like the Brown Advisory Student-Managed Investment Fund, which manages over $2 million in equities, alongside study abroad programs and the Washington College Innovation Plant, which is set to have its groundbreaking at the historic High Street location in Chestertown next month.

“We will graduate students who use business to make the world a better place,” Putnam Rankin said, noting that the school will foster in its students the philosophy of community involvement and social responsibility.

For current students, the new facility represents a significant leap forward. Business management major Giselle Kleinbussink, expressed a mix of pride and nostalgia at the event.

“I’m excited and a little jealous to see how the students coming in will be able to take advantage of the opportunities and resources that Warehime will offer,” she said, while also thanking Warehime Rizakos for her continued participation in the business management program. Kleinbussink is graduating this spring.

Reflecting on her own journey, Beth Warehime Rizakos spoke to the importance of maintaining the College’s nimble, liberal arts roots while offering something "big and bold" to the next generation of leaders.

“Washington College made me who I am today. It challenged me to expand my horizons, meet new people, try new things, and think differently,” Warehime Rizakos said. “I believe in the spirit of this school, the planning and thinking to get it there, and the leadership to get this done.”

The event concluded with a ceremonial golden shovel turn and a presentation of framed renderings of the building to Warehime Rizakos.

The 2028 opening of the facility will feature global distance learning classrooms, a finance and investment lab, and collaborative atriums.

While the physical building is underway, the Warehime School of Business will officially begin admitting its first class this fall, offering programs in business management, economics, international studies, and world languages and cultures.

Following the ceremony, attendees gathered for a reception at the Golden Goose Pub to celebrate the future of business education on the Eastern Shore.

For more information on the Washington College Warehime School of Business visit https://www.washcoll.edu/academics/warehime/index.php.

- Dominique Ellis Falcon