Virginia Tech Innovation Campus Gets $50M Commitment From Boeing

ALEXANDRIA, VA — Aerospace company Boeing has committed $50 million to the Virginia Tech Innovation Campus in Alexandria as the first foundational partner of the campus.

Virginia Tech and Boeing made the announcement Tuesday, building on a relationship between the company and school topping 70 years. The $50 million, multiyear commitment from the company is equal to the largest gift in the school's history.

"We are extremely grateful to Boeing for this extraordinarily generous show of support," said Virginia Tech President Tim Sands in a statement. "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."

Boeing CEO David Calhoun said the $50 million multi-year investment is intended to immediately build a pipeline of tech talent. The company also wants to see a diverse student population that can boost opportunities for underrepresented groups.

"In the Boeing company, we get together once or twice a week, and we talk about our biggest need, and it's this. It's talent in these fields all things STEM and specifically data science, data engineering and the application of those skills in a world that wants to explode right in front of us. And I mean explode in a great way," said Calhoun.

Lance Collins, vice president and director of the Innovation Campus, said Boeing's support will allow the campus to accelerate efforts such as scholarships, recruitment of top faculty, and funding K-12 programs to provide a pathway for students to attend college and pursue tech careers.

"A portion of this gift will provide scholarships to students who have the talent and the drive but may not have the financial resources to be able to participate on the Innovation Campus and all of the opportunities it would afford them," said Collins.

Gov. Ralph Northam and Sen. Mark Warner were also on hand to celebrate Boeing's $50 million commitment.

"Businesses need a talented workforce, and so all that we can do to invest in education and to make sure that pipeline exists between our education system and workforce is what keeps our businesses growing, and it's what keeps our economy growing in Virginia," said Northam in remarks.

The Innovation Campus plan played a key role in Amazon's decision to locate its second headquarters just north of Alexandria in Arlington's Crystal City. Construction of the first building for the Innovation Campus will begin later in 2021, and the building is expected to open in 2024. The campus will be part of a mixed-use development being planned by JBG Smith and include 300,000 square feet of academic space and research facilities, 250,000 square feet of partner space for startups and corporate facilities, 350,000 square feet of housing for students and faculty, and 100,000 square feet for retail and support spaces.

The campus already welcomed its inaugural class in 2020, 79 students based in the DC region working toward master's degrees in computer science and computer engineering. The campus is operating in temporary space, and its headquarters is located on the ground level of the National Industries for the Blind building.