Ben Franklin Technology Partners of Southeastern Pennsylvania and the Delaware Valley Industrial Resource Center announced today they will move to the Philadelphia Navy Yard this fall as part of an effort to create a regional hub for technology commercialization and engineering science in the city.
Both will move into a 32,000-square foot building that was once a Marine Corp barracks. Known as the Building 100 Innovation Center, the facility will have offices, laboratories, classrooms and related space geared to creating and fostering technology-based businesses and jobs in Philadelphia.
The Philadelphia Industrial Development Corp. is a partner and will provide construction and financing to renovate the turn-of-the-century brick building.
"The region is a leader in the life sciences arena, but less attention has been spent on the capabilities of the physical and engineering sciences," said RoseAnn B. Rosenthal, president and CEO of Ben Franklin Technology Partners. "We plan to change that."
Ben Franklin Technology Partners is currently at 1835 Market St. in Center City, and the Delaware Valley Industrial Resource Center is at 2905 Southampton Rd. in the Northeast.
Several technology firms have already moved to the Navy Yard, including Freedom Sciences, a start-up, in anticipation that companies, scientists and academics will locate at the new center.
In March 2005, Gov. Rendell designated the Navy Yard as a Keystone Innovation Zone designated to receive state funds for technology development. The Building 100 Innovation Center is the first initiative of the Navy Yard Keystone Innovation Zone.