CEO gives $3 million to Michigan State University

A $3 million gift to Michigan State University seeks to help bolster entrepreneurship.

The East Lansing school announced Monday that Larry Gaynor, president and CEO of TNG Worldwide, and his wife, company vice president Teresa Gaynor, made the donation to create the Gaynor Entrepreneurship Lab on the first floor of the school's Business Pavilion.

The lab will feature flexible space that those involved say is conducive for hosting entrepreneurship-focused business courses and group work.

Larry Gaynor, a Michigan native, earned a bachelor's degree in accounting from the Broad College of Business in 1977. TNG Worldwide is a beauty products distributor and manufacturer.

The company's customers include salons, spas, retailers and distributors.