Cornell Given $350 Million for NYC Campus as Stanford Withdraws

Cornell University announced an anonymous $350 million gift to support its bid for a proposed engineering campus in New York City hours after Stanford University said it was pulling out of the competition.

Cornell, based in Ithaca, New York, and Stanford were among 15 universities taking part in Mayor Michael Bloomberg’s competition to bring an engineering school to the city to create new companies and jobs. Stanford pulled out yesterday after failed negotiations with the city.