New York University will invest $1 billion in its Tandon School of Engineering in Brooklyn, adding $400 million to the $600 million it had already pledged to the school.
The money, which comes from the university’s own funds, will go toward improving labs and student gathering spaces, bolstering the cybersecurity and artificial intelligence programs, and hiring 40 tenure-track faculty members, according to preliminary reporting by The New York Times.
Tandon School dean Jelena Kovacevic told the Times that once the campus is updated, it will be “like a candy store for grownups,” adding that the funding will also boost NYU’s standing among its competitors.
“No university can achieve national or international status without a viable technology school,” she said.
NYU has invested heavily in the engineering school since essentially acquiring it in a 2014 merger with Polytechnic University. In 2015, it was renamed for trustees Ranjan and Chandrika Tandon, who donated $100 million to the school; in September, the university purchased a 10-story building in Brooklyn to serve as the college’s central hub.
“Engineering education is a force for social mobility, an economic engine for the borough, and a vital contributor to the city’s effort to be a world center of tech,” NYU president Andrew Hamilton wrote in a statement.