Arthur M. Weimer was born May 19, 1909 in Rock City, Illinois to parents Mr. and Mrs. Conrad Henry Weimer. Following a rural upbringing, Weimer attended Beloit College, earning his A.B. in 1929. He immediately went on to study at the University of Chicago, where he attained an A.M. in 1931 and a Ph.D. in 1934. Weimer was later awarded honorary LL.D.s from the American Graduate School of International Management (1946), Beloit College (1950), and Indiana University (1982). He completed a mid-career term of military service in the U.S. Army during World War II, where he attained the rank of major (1942-1945).
At the outset of his professional career beginning in 1934, Weimer taught briefly at Alma College and the Georgia School of Technology. He also served as a field research supervisor and housing economist for the Federal Housing Administration from 1934-1937. In 1937, Weimer was hired as a faculty member at the Indiana University School of Business; he was elevated to the position of Dean of the I.U. School of Business in 1939, succeeding Herman B Wells.
During the nearly twenty-five years that he served as Dean, Weimer played a key role in developing the Indiana University School of Business into a national leader and model for business education. He was a recognized expert in real estate and land economics, and his widely circulated published texts, articles, and lectures on the topic had extensive influence on the discipline's academic formation.
Upon his resignation as Dean in 1963, Weimer remained a presence at Indiana University in various capacities, including: Professor of Real Estate Administration, Professor of Real Estate and Land Economics, Savings Association Professor Emeritus of Real Estate and Land Economics, Special Assistant to the President (John W. Ryan), and founding Director of the University's Aerospace Research Applications Center. After his official retirement from Indiana University in 1979, the University established the Weimer Chair of Business Administration and the Weimer Fund for Innovation in his honor.
Throughout his career, Weimer was highly active in business and philanthropic organizations. He served with the American Assembly of Collegiate Schools of Business (president), Beta Gamma Sigma - national business honor society (president), the American Finance Association (president), and the Indiana Educational Services Foundation (vice president). He also maintained positions on various boards of directors, including Ball Corporation, Mead Johnson, Midwest Research Institute, National Homes, Railroadmen's Federal Savings and Loan Association, Real Estate Trends, Inc., and Thunderbird Graduate School.
In the latter part of his life (1970s-1980s), Weimer worked on the national level as an economic consultant to the U.S. League of Savings Associations, consultant to the Federal Deposit Insurance Corporation, consulting economist for the U.S. League of Savings Associations, and a member of the Presidential Task Force on Low-Income Housing and the Board of Directors of the U.S. Chamber of Commerce.
At the age of 77, Arthur M. Weimer died in Bloomington on April 6, 1987 after a long battle with illness.