On Tuesday, the same group celebrated hitting half of that goal.
This amount does not include a $20,000 donation presented by First National Bank to the group at the meeting Tuesday.
All the money raised will support state-of-art equipment, labs and classrooms, student scholarships and technology and staff endowments.
North Salem State Bank President Rod Lasley has headed the fund-raising campaign.
He told the group gathered at the Walden Inn that support from the community is critical in completing the goal.
"When all segments of a community come together for a common purpose, great things can happen," Lasley said. "That is happening now in Putnam County. I am extremely excited with the commitment that this community continues to show toward this project. Beginning with the initial letters of support, our community has realized that the programs Ivy Tech community College can provide are a crucial step in giving our residents state-of-the-art education and training opportunities. What an awesome thrill to be part of an effort that is so fully supported and financially backed by many local businesses and individuals,."
Putnam County Development Center Executive Director Bill Dory talked about the economic impact the Ivy Tech facility will have on the community.
"The annual lifetime earnings of Ivy Tech graduates are estimated to be 74 percent higher than Hoosiers with only a high school diploma," he said.
"The rate of return on the investments in money and earnings by Ivy Tech graduates is estimated to be 23.1 percent. That is almost five times higher than the yield of a personal savings account. And, the rate of return to Indiana taxpayers from these students is 15.1%. Where else can Indiana invest its taxpayers' dollars for returns this high? he asked.
The economic impact of the community college includes over $700 million to the Indiana economy annually as direct expenditures for additional business and consumer spending. The college is one of the states larges employers with over 2,300 full-time and 3,800 part-time employees.
The new center will include a 32,000 square-foot building on land donated by the City of Greencastle and will house programs in health, business, logistics, early childhood education, public service and liberal arts. Over 1,000 students a year will be served by the new center.
This is an increase of over 50 percent of the current enrollment of the facility.
With a generous endowment-building matching grant form the Putnam County Community Foundation as the initial base for community support, matching fund opportunities for scholarship, faculty and technology were made available.
The fundraising group recognizes they still have a lot of work ahead of them as they head into the next phase of fundraising. With many business and corporate donations already made the group is preparing to ask help from the community.
One way of giving is to make a commemorative gift to Changing Lives…Building Futures campaign. For a donation of $1,000,000 you can name the entire facility. For $100,000 your name can go on the library.
If that's out of your giving range you can donate $20,000 for a large classroom, $15,000 for a testing center or small classroom. Even $5,000 will put your name on one of the four Student Services Centers. Many other options are also available.
The Putnam County Community Foundation is offering to match contributions up to $80,000. They will pay $1 for every $1 donated by an individual and $1 for every $3 donation by a corporation.
The Foundation is also offering a Scholarship Endowment match of $1 for every $2 donated up to $95,000.
Donations to Ivy Tech and the Workforce Development Center can be paid over one, two or three years. Pledge installments can be paid annually, monthly, quarterly or semi-annually.
For information on making a donation, setting up a scholarship or obtaining a commemorative gift contact Becky Miller, Executive Director of Resource Development at Ivy Tech Community College at 800-377-4882, ext. 2361 or email at email@example.com.