Name: Oakland University William Beaumont School of Medicine

What it is: A private allopathic medical school in collaboration with OU and Beaumont Hospitals.

When approved: August 2008

Founding dean: Robert Folberg

Current progress: In the process of hiring faculty and administrators

Preliminary Accreditation: Aimed for summer 2009

Inaugural classes: Planned to  begin in fall 2010

How funded: Not through public funds or regular student tuitions, but through private donations, medical school student tuition, research.

Raised so far: $25 million in private donations

Goal of raising: $100 million by 2010

Where classes will be held: Basic classes and research at OU’s O’Dowd Hall, clinical classes and research at Beaumont Hospitals.

Its separate building: Planned to be done by 2012

Funding for building: Aiming for $200 million by 2012

First class to graduate by: 2014

Emphasis of school: Pre-symptomatic treatment, preventative medicine and alternative medicine.

OU’s expectation of school: Generate $1 billion for local economy and create 11,000 new jobs.

Virinder Moudgil, OU vice president of academic affairs and provost speaks about the school: “The economic climate and the economic impact of the medical school is so huge that it is not only timely that we become leaders in southern Michigan. By developing a medical school, we’re going to infuse large resources into the state and industry.”