The 13.2 acre site of University of the Highlands and Islands (UHI) development will create 300 during the construction process, with a minimum of 28 posts filled by modern apprenticeships.
The Scottish Government said Inverness is the first Further Education college to use the Non Profit Distributing (NPD) financing model with the City of Glasgow and Kilmarnock colleges set to follow later this year.
NPD ensures that private sector returns are capped, that there is no dividend bearing equity, and any surplus is directed in favour of the public sector.
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Other projects named as part of the £2.5bn NPD pipeline include improvements to the M8, M73 and M74, while construction work has already started on community health buildings in Aberdeen, Forres and Tain.
Deputy First Minister Nicola Sturgeon said: "The new £50 million Inverness College UHI will be a landmark building, the centrepiece in a high quality, modern and sustainable campus being developed on the outskirts of the city.
"This Government is determined to invest in Scotland's infrastructure - our schools, roads and hospitals - both to stimulate growth in the short term and lay the foundations for long term success.
"That is good news for the Highland economy and its construction industry and will attract businesses and highly trained professionals to the Highlands to help stimulate economic growth.
"Our investment in schools, hospitals, roads and other infrastructure is set to top £3.4 billion in 2013-14, which is estimated to support more than 40,000 jobs across the Scottish economy."
(JP/CD)
