The Board of Trustees for the Endowment Fund of North Carolina State University has sold 79,000 acres of forest to agribusinessman Jerry Walker of Walker Ag Group for $150 million. Proceeds from the sale will be placed in an endowment with an annual return of $6 million to benefit the College of Natural Resources. According to the university the income from the endowment will be three times the income for the university from yearly timber sales from the property. Mr. Walker manages family-owned Walker Ag Group of Illinois. The group focuses on grain production, fertilizer storage and distribution, land management and trucking.
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