Earlier phases focused on established businesses, but the latest is targeting commercialization of technology concepts. The 80,000-sf building will feature the Commercialization Centre for Innovative Technologies, with much of the space set aside for small firms. A $4 million appropriation by the legislature set the phase in motion.

"This is part of our strategy to foster new high-tech businesses," DiFrancesco said at the ceremony. The aim is to raise good science and good ideas into new high-tech businesses and jobs."

The Commercialization Centre portion of the building will cater to firms needing 800 sf to 3,200 sf; bio-science and life science are key targets. The rest of the building will be marketed to companies needing at least 6,000 sf, with biotech, communications, advanced materials and microelectronics among the targets.

The third phase will bring the Technology Centre to 270,000 sf, with build-out projected at 600,000 sf. It currently has six high-tech tenants employing 400 people. Investors include the AFL-CIO Building Investment Trust and the New Jersey Commission on Science and Technology.