The University of Central Arkansas says the local utility system has pledged $3 million for construction and renovation work at its Lewis Science Center.
The gift from Conway Corp. was announced Monday after it was approved previously by the city-owned utility's board of directors.
UCA President Tom Courtway called the gift one of the most significant developments in the school's history. The money will help build state-of-the-art labs and scientific facilities for students.
The gift will be paid out in five annual installments of $600,000, beginning in 2016. Among other work, the school will build a 50,000-square-foot addition.
Conway Corp. was founded in 1929 as the city risked losing a pair of other colleges in the city. It began operating the electric utility and then branched out into other services.
