The Virginia Tech Corporate Research Center held a dedication ceremony Tuesday to officially name Smoot Drive to honor Raymond J. Smoot Jr. for his vision for and leadership of not only the research park, but the Virginia Tech Foundation and the university as a whole.
VTCRC President and CEO Joe Meredith opened the ceremony. He passed it off to Mark Musick, president of the Class of 1969, who spoke about Smoot as a young Hokie. John Dooley, Virginia Tech Foundation CEO, took the podium to reflect on time spent with Smoot. Finally, the street sign was revealed to Smoot, who gave thanks to his family and Virginia Tech.
During Smoot’s 35 years with the Virginia Tech Foundation, the university grew in size, scope, and influence. When Smoot was first hired as a part-time employee in 1977, the endowment stood at about $4 million and total assets were about $11 million. When he retired in 2012, the foundation was a solid and expansive enterprise, with an endowment of nearly $600 million and assets valued at more than $1.21 billion.
Smoot Drive is located between Innovation Drive and Research Center Drive.
Photos by Olivia Coleman
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