The Waterville liberal arts college set an original goal of $750 million for its historic Dare Northward campaign, but later raised the target to $1 billion.
An overall $500 million investment includes a $300 million, 200,000-square-foot science complex with labs, classrooms, specialized equipment and computing infrastructure.
Investments and campus initiatives contributed more than $2.5 billion to Maine’s economy in the past six years, according to an independent study commissioned by the Waterville liberal arts college.
The McVey Center for Computational and Data Sciences is named for donor Richard M. McVey, a Colby College trustee who founded and leads MarketAxess, a New York-based financial technology company.
The Waterville liberal arts school says the gift is one of the largest in its history. The donation comes as Colby continues a capital campaign to raise $1 billion.
The Waterville school is upping its goal after recently reaching the $780 million mark, and called the effort “one of the most ambitious fundraising initiatives in the United States by a liberal arts college.”
Colby, Bates and Bowdoin colleges issued statements in response to last week's Supreme Court ruling against race-conscious admissions programs at Harvard and the University of North Carolina.