The state Economic Development Authority (NJEDA) and Liberty Science Center have agreed to form a partnership to develop, construct and manage the 120,000-square-foot life sciences, health care, and tech innovation hub at the SciTech Scity campus, Gov. Phil Murphy announced.

The agreement is a non-binding letter of intent to create a limited liability company called “Edge Works,” and, pending approval by its board, the NJEDA would invest up to $20 million in the LLC. Anticipated costs for the innovation hub project total more than $116 million.