Atlantic made history in 2012 when it announced its largest single grant ever—$350 million to fund the first stage of a new Cornell NYC Tech campus. The investment in the two million square foot applied science and engineering campus on Roosevelt Island in New York City reflects Atlantic founder Chuck Feeney’s belief in the continuous payoff that comes from making big bets in higher education.
The new center will be a magnet for world-class researchers, young entrepreneurs and business incubators. In addition to bolstering both applied science and the economy of the city and region, the new center will spur $23 billion in overall economic activity projected over the next three decades, as well as $1.4 billion in additional tax revenue. Cornell also will partner with New York City’s public schools on programs designed to help students develop a deep, genuine interest in science, technology, engineering and math, and will prepare them for college and further technical education.
Greater Than the Sum of Its Parts
In size alone, the Atlantic investment in the Cornell NYC Tech Campus stands out. But there’s more:
An Example for Others
Former New York City Mayor Michael Bloomberg has said that the Cornell NYC Tech campus is an example of how Chuck Feeney’s giving over the years has supported projects “that create lasting, transformative change” and that also inspires “others to do what they can to make our world a better place.”
A Place for Great Minds
The Cornell NYC Tech campus is envisioned as a world-class facility that will combine academic innovation with applied research and practical applications, and also as a forum for thinkers from different fields to connect and challenge one another’s ideas and theories.
Observers have said the Cornell NYC Tech project is potentially the “most transformative capital grant in Atlantic’s history,” it’s also considered a model for what other cities ought to be doing to help accelerate change into the digital age.
Here’s Who’s Helping Write the Next Chapter in This Continuing Story