Boeing will give Virginia Tech $50 million for scholarships and programming at its $1 billion Innovation Campus in Northern Virginia.
Boeing was named the campus’ first “foundational partner,” Virginia Tech announced Tuesday. The $50 million gift, matching the most ever donated to the school, is intended to help create the most diverse graduate technology campus in the country.
“This is a milestone moment in our university’s history, and it will propel our work to help establish the greater Washington, D.C., area as the world’s next major tech hub,” Virginia Tech President Tim Sands said in a statement.
The funds, spread out over several years, will be used for scholarships, recruitment and STEM programs for underserved children and teens.
Construction of the Virginia Tech Innovation Campus is expected to begin in the fall and the first building is set to open in 2024. The effort aims to grow to about 750 master’s degree students and 200 doctoral students.
The Innovation Campus’ headquarters opened on Potomac Avenue earlier this year. The campus will be located in the Alexandria portion of the newly rebranded National Landing, about two miles from the Amazon HQ2 location.
Amazon cited plans for the Virginia Tech Innovation Campus as a prime factor in its 2018 decision to choose Northern Virginia for the location of its next major headquarters.