The 23-acre property adjacent to Penn's campus accommodates, in state-of-the-art facilities, researchers, entrepreneurs, and industry partners solving real world problems and translating inventiveness into viable ventures. By grouping facilities for innovation, technological development, and artistic production/exhibition, Penn envisions a multifaceted workshop for harnessing and commercializing the tremendous creative potential in the region.
This property is strategically situated in a valued location within the Lower Schuylkill Innovation District, and is envisioned to become a keystone securing University City, Center City, and the emerging Innovation District as three engines of Philadelphia's economy. Businesses that are located at Pennovation Works are eligible to receive significant state and local tax benefits including abatement of Business Privilege Tax, Net Profit Tax and Real Estate Tax.