New high-tech developments in West Philly?

Apparently the University City Science Center, which was designed to bring together small businesses and thinkers related to science and technology (and possibly incubate the commercialization of technology) is apparently starting a new push to expand its activities.

The strategy includes creation of a $10 million investment fund that Banerjee hoped would draw nearly $100 million more from government agencies and private investment groups. A large, new laboratory would be built to support the research of life-sciences companies. The Science Center also would provide management help to the companies.
. . .
He said the goal of the Science Center's new strategy is to help create at least 40 companies with a market value of $1 billion by 2010 and to increase their value to $3 billion by 2015.

Reading a bit further in the article, it sounds like they hope to revitalize the area in a number of ways:

He said a hotel and new office space would be part of a "master plan" being fashioned by the Philadelphia architecture firm Kling, the real estate firm Binswanger, and Bay Area Economics, a California consulting firm specializing in research parks.

I am perhaps an unbiased observer, working as I do for a scientific publisher in UCSC facilities, but this all sounds promising. Jobs and new businesses are good for Philadelphia, and may help bring the embattled West Philly back to some of its former glory...

(via staff researcher RSM)