The New Jersey Institute of Technology, one of the country’s leading public technological universities, has successfully achieved their $150 million fundraising goal for the campus’s transformation, following a massive national campaign. The Newark based university has raised over $153,700,000 two years ahead of schedule.
The funds act as the foundation for the “2020 Vision: A Strategic Plan for NJIT” which will make comprehensive changes to the campus, open new student scholarships, and provide new opportunities for current and future students.
“These historic gifts show strong belief in our students, faculty, programs and community, while providing them with the necessary tools to help solve some of the world’s difficult problems,” said NJIT President Joel S. Bloom. “Our donors understand that we are preparing for what is next in a technology-based economy.”
“This support has helped NJIT become the first choice for so many high achieving students and faculty superstars, all of whom contribute to the vitality of this campus,” said Dr. Charles R. Dees, president of the NJIT Foundation. Around 125 new student scholarships have been established since the campaign began, leading to an all-time enrollment high of over 11,000 students.
Funds have also been allocated to current students in the forms of research grants that will allow students to “explore the leading edge of science, technology and design in their chosen fields,” NJIT said. The funds have also allowed for 17 new faculty members to be hired this academic year.
The goal was achieved through many large and small individual donations from alumni, students, faculty, foundations, corporations and the public. The largest philanthropic gift was a multimillion dollar commitment from China-based UStarcom, Inc. CEO Ying Wu, who is from the class of 1988.
The physical appearance of the campus will be improved over the next few years, as well as internal improvements. These include a new 4,000 seat “Wellness and Events Center,” which will become the new home of athletics, an advanced wireless system, upgraded wet and dry laboratories, and flex space that will encourage multidisciplinary work and student interaction, NJIT said.
Other major construction projects include the Albert Dorman Honors College Residence Hall, which will have computer labs, project studios, a library and student lounges and offices; the Warren Street Village, a three-acre mixed-used complex that has residence halls, dining services, a conveyance store, fitness center, and Greek life duplex houses; a renovated Central King Building that will feature smart classroom technology and become a STEM teaching hub; and a seven-floor parking deck next to Science and Technology Park.
Changes are already underway on campus, with ground being broken on October 1 for the $19 million Life Sciences and Engineering Building that will “assist NJIT’s major presence in biomedical engineering and other leading fields,” NJIT said.
Featured image courtesy of the New Jersey Institute of Technology