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FAYETTEVILLE -- A $23.7 million gift from the Walton Family Charitable Support Foundation to boost research and commercialization efforts at the University of Arkansas, Fayetteville includes money "to attract five 'star' scientists," according to a gift agreement between the foundation and the university.

University leaders described the five-year grant -- announced Friday to include $5 million in support of faculty hiring, with the rest going to various support initiatives for researchers -- as providing a lift to state economic-development efforts.

Image: FILE — Old Main is framed by students and trees Tuesday, March 3, 2012 on the University of Arkansas campus in Fayetteville. - Photo by William Moore