University of Oregon announces $500M gift from Phil Knight for science center

(AP Photo/Rick Bowmer, File)

Phil and Penny Knight have gifted $500 million to the University of Oregon to create the Phil and Penny Knight Campus for Accelerating Scientific Impact.

According to a news release sent by the university Monday evening, the gift is the largest ever to a public flagship university.

The campus will consist of three new buildings at the northwest corner of Franklin Boulevard, and will drive $80 million in annual economic activity with 750 family-wage jobs once it's fully operational.

A news conference announcing the project will be held Tuesday morning -- KATU News will be there.

“In an age of declining public support for scientific research generally and declining public higher education support specifically, Penny and I are delighted to contribute to these critically important areas,” Phil Knight said in a news release. “While not without risk, we believe the expected societal returns from such investments are high. And here at home in Oregon, we believe the potential to arm our talented young people with the skills and tools they will need to have a lasting impact on the world and to pursue rewarding careers makes such investments essential.”

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