CHEYENNE - Gov. Dave Freudenthal and other state leaders heralded a still-rough proposal for a business school in Jackson Hole, saying the state's vast surplus makes this the right time to get moving on a long-discussed idea.

Lawmakers said at a news conference Friday they hope to introduce a bill for studying the proposal soon after the legislative session begins next week.

The bill is being sponsored by incoming Senate President Grant Larson, R-Jackson, and incoming House Speaker Randall Luthi, R-Freedom. Dollar figures for the study and perhaps initial building are still being tossed around, but $24 million is one being discussed.

"This is an idea, a concept that needs significant additional work. But it is an idea, a concept, that is appropriate for the state to examine," Freudenthal said.

One unresolved issue, he pointed out, is that state law only allows state land to be leased for school districts, not higher education.

"The point I'm making is, let's not get too excited about condemning or praising the details. But let's do get excited about trying to advance the concept and setting aside some funding so that should we try to proceed, we can get it done," he said.

Luthi said a business school in Jackson Hole would help Wyoming youth who are interested in staying in Wyoming and getting advanced degrees.

"We're thinking of our future, we're thinking of our youth, we're thinking in particular of the University of Wyoming," he said. "What better way for the University of Wyoming to take advantage of the great mineral wealth we have right now and plan for the future?"

Larson said the initial funding should be put toward infrastructure.

"I'm not speaking of nuts and bolts, of only buildings and sewers and all that kind of thing," he said. "That's not my definition of infrastructure. Infrastructure is to put programs in place at the university such as this. We will then be prepared to deal with the future."

Brent Hathaway, dean of the University of Wyoming College of Business, said the college has around 1,500 students, including about 200 graduate students, and mentioned a recent poll showing that 71 percent of graduates remained in the state.

State Superintendent of Public Instruction Trent Blankenship and State Treasurer Cynthia Lummis also praised the business school idea.

"Wyoming is in a position to do something grand and bold with the mineral income it is currently enjoying," Lummis said.

She said Wyoming's business climate is missing important components, including the right education programs.

"There is a dearth of business leadership that is being cultivated indigenously in Wyoming," she said.

"And this creates an opportunity for that to grow, for people from Wyoming to be educated alongside world-class students, through world-class professors, in a location that provides an environment where we can access that extraordinary brain trust that is available in Teton County through a lot of retired and active business leaders."

Having the University of Wyoming team up with other business schools in getting the program going is also being discussed.