BLACKSBURG—Virginia Tech will build a new $1 billion campus adjacent to Amazon’s new HQ2 campus in Northern Virginia.
The new 1 million-square-foot Virginia Tech Innovation Campus will be located with Amazon’s HQ2 campus in National Landing, a new neighborhood that encompasses Pentagon City, Crystal City and Potomac Yard. The project is part of a comprehensive higher education package cited as a key reason the company selected Virginia for a new headquarters.
Tech and the state have committed to provide $250 million to seed the project. The school said in its announcement that private philanthropy, industry partners and other revenue streams through sharing spaces will fund the project.
“This is a watershed moment for Virginia Tech and a great day for the commonwealth that we are committed to serve. As a land-grant research institution, we knew we needed to claim our role of driving economic development in Virginia,” university President Tim Sands said in a news release. “Our new Innovation Campus will be the global center of technology excellence and talent production—where highly skilled students, world-class faculty, smart ideas, and forward-thinking companies will meet to propel the commonwealth and the region forward.”
Amazon’s HQ2 was announced Tuesday after more than a year of waiting. The online retail giant had vowed to invest $5 billion and create 25,000 jobs with a second headquarters. The new headquarters will be split between Northern Virginia and the New York City area.
The new campus will feature graduate students working in technology and will boost the region’s innovation economy, according to the school. The first 100 master’s students will enroll next fall on the campus and the campus will host 500 master’s degree students within five years.
“Today is a historic day for the commonwealth,” Sen. Mark Warner said in a news release. “The Innovation Campus will transform Virginia’s high-tech economy while also providing a pipeline of talent to industry all over Virginia, including Amazon. Once fully launched, it will benefit educational institutions and regions across the commonwealth.”
The campus will feature the following:
- 300,000 square feet of academic space and cutting-edge R&D facilities.
- 250,000 square feet of partner space dedicated to startups and corporate facilities.
- 350,000 square feet of housing space for students and faculty.
- 100,000 square feet of retail and support spaces.
Tech already has a robust presence in the region with seven locations. The school also draws many of its students from the area and estimates it has 60,000 alumni in Northern Virginia.