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The much-buzzed-about SciTech Scity project at Liberty Science Center has taken another exciting step forward.

Gov. Phil Murphy announced Thursday a non-binding Letter of Intent between the New Jersey Economic Development Authority (NJEDA) and SciTech Scity LLC (STS) to form a new limited liability company – “Edge Works,” the name of the project – which will oversee the development, construction and management of a proposed roughly 120,000-square-foot, eight-story life sciences, health care and tech innovation hub adjacent to the Liberty Science Center in Jersey City.

Edge Works will house laboratories, research and development spaces, office suites, coworking spaces for startups, a tech exhibition gallery, a state-of-the-art conference center, and more.

Pending approval from its board, the NJEDA plans to invest up to $20 million in the project, which is expected to cost more than $115 million.

Edge Works marks the latest major development for SciTech Scity — a 30-acre, $450 million expansion of Liberty Science Center that will include Liberty Science Center High School, a new public STEM high school for Hudson County, and Scholars Village. Last month, NJBIZ reported a collaboration between Liberty Science Center and Ernst & Young LLP (EY US), with EY US assuming the role of lead orchestrator of a unique interdisciplinary Healthcare Innovation Engine at SciTech Scity.

In a press release announcing the LOI, the Governor’s Office said that health care and life sciences are key areas of focus for Edge Works — particularly a new model of health care that emphasizes prevention and early detection of disease through the development, testing and adoption of digital home health technology.

Sheba Medical Center, a leading Israeli hospital and STS anchor tenant, has plans to create a hospital of the future simulation space on the top floor of Edge Works called Liberty Science ARC HealthSpace 2030.

Officials say Edge Works will create nearly 800 construction jobs and more than 400 permanent positions.

“Edge Works will build upon New Jersey’s legacy as the ‘medicine chest’ of the world by fueling the economic benefits of this and other industries in North Jersey and contributing to our efforts to cultivate the most diverse, inclusive innovation ecosystem in the nation,” said Murphy. “This new hub of innovation will support dozens of promising New Jersey entrepreneurs in the nation’s most ethnically diverse city. In turn, the hub will have access to Jersey City’s unparalleled talent pool, and all the infrastructure, academic, and technological prowess right outside its doors that only SciTech Scity and Liberty Science Center can provide.”

Liberty Science Center President and CEO Paul Hoffman says he is grateful for the state’s investment in SciTech Scity.

“For 30 years, Liberty Science Center has inspired the next generation of scientists, engineers, and innovators,” said Hoffman. “We look forward to our expanded mission of starting new companies that use science and technology to address humanity’s greatest challenges and create a better future for all of us. Edge Works and SciTech Scity are guided by the vision that the best way to predict the future is to create it.”

Jersey City Mayor Steve Fulop describes SciTech Scity as a revolutionary project for Jersey City and the Garden State – establishing both as a premier destination for innovation and collaboration.

“While providing coveted opportunities ranging from public education for our youth to STEM-based jobs to investment and everything in between,” said Fulop. “I am incredibly grateful for Gov. Murphy’s and the NJEDA’s support, as this funding is vital in moving forward with SciTech Scity and our vision for economic growth.”

NJEDA Chief Executive Officer Tim Sullivan says that Edge Works aligns with the administration’s vision for strategic innovation centers and continued leadership in the life sciences and health care.

“We are thrilled to work with the STS team to make this promising concept come alive and ensure North Jersey reaps the educational, economic, and job creation benefits of the high-growth life sciences sector,” said Sullivan. “The Letter of Intent announced today and the planned investment will help to generate high-quality jobs in the near-term, but also plants the seeds for the career opportunities and economic activity the companies that grow at Edge Works will create long into the future.”