The University of Iowa is making strides toward its strategic goals with a substantial commitment of up to $15 million in P3 funding for fiscal year 2026. This financial backing is set to enhance various university initiatives, including a novel interdisciplinary project, renovations of significant facilities, and bolstering faculty recruitment and retention efforts.
One of the key undertakings is a three-year, $642,896 project aimed at enhancing the health and quality of life for cancer survivors through the establishment of an Exercise Oncology Clinic. Located within the Department of Health and Human Physiology, this clinic will offer tailored exercise programs and use advanced imaging technology as part of its rehabilitation services. The project, selected from 11 proposals during a campuswide call for P3 projects in fall 2024, also aims to serve as a clinical research hub and provide practical learning opportunities for students in exercise and health-related disciplines.
In addition, the university will continue its investment in educational infrastructure by allocating $3 million for the ongoing renovation of the Performing Arts Annex, formerly the art museum. Scheduled to be completed by August 2026, this updated facility will house the Department of Dance and foster collaboration among various performing and visual arts programs. Construction began in February 2025, illustrating the university’s dedication to enhancing its educational resources.
Moreover, of the remaining P3 funds for FY 2026, $4 million is earmarked for the High Impact Hiring Initiative. This initiative is crucial for attracting and retaining exceptional faculty, having supported 75 faculty recruitments and 32 retentions across 10 colleges since its inception in 2021. The Strategic Plan Action and Resource Committee (SPARC) also plays a significant role, with its Strategic Plan Implementation Fund backing 19 campus projects since FY 2024, including seven in FY 2025. A detailed list of projects supported by this fund is available on the strategic plan website.
The P3 Program, established in March 2020, stems from a nearly $1 billion endowment created through a 50-year partnership with ENGIE North America and Meridiam to manage the university’s utility system. This endowment supports an annual investment of about $15 million to advance the university’s core missions in teaching, research, and scholarship. The program’s influence is underscored by Kevin Kregel, executive vice president and provost, who states, “The P3 program helps us turn great ideas into real progress.”
To learn more about the P3 Program and its funded initiatives, visit the strategic plan website.
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