A rendering of the building that Husson University hopes to build starting in 2020 to house its business college. Credit: Contributed from Husson University

Husson University has raised almost $40 million in cash and pledges over the past five years to pay for a new building and student scholarships.

Almost half the amount will be used to construct a new College of Business building, worth $17.2 million, which Husson expects to break ground on in April.

The money was also used to create 51 scholarships that will allow more students opportunities for financial aid.

“This successful campaign has made it possible for us to better support the success of our students and serve as a catalyst responsible for the economic future of our state,” said Husson president Robert Clark.

The campaign, called “Shaping our Future,” had an initial goal of $21 million but $16 million in contributions from alumni and Husson supporters early in the fundraising process, plus the need for a new business building, prompted the university to increase the goal to $30 million.

The campaign also attracted Husson’s largest single contribution in its history, a $4 million matching contribution from the Harold Alfond Foundation.