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NEET Center Associates LLC announces the acquisition of the former Lackawanna Business Center in Mayfield to redevelop the 95,000-square-foot mixed-use building into the Northeast Environmental and Technology Center (The NEET Center).

The redevelopment of the existing building into The NEET Center will provide an opportunity for entrepreneurs and product developers to get the assistance necessary to move their idea and inventions forward.

NEET Center Associates principles have a different approach to reinvigorating The Regional Biomedical research initiative. Dan Summa, president of NEET stated “Northeast Pennsylvania is well positioned to play in the life sciences/environmental product development arena. The intersection of new technologies being created for the gas industry, agriculture, and healthcare will spawn new companies developing solutions to today’s issues. The Life Sciences Incubator with its first class labs, offices and meeting rooms is a natural fit for startup companies to test new ideas with both administrative and facility support.”

The NEET Center was formerly occupied by St Rose Academy and the Lackawanna Valley Heritage Authority. The property is located at 1300 Old Plank Road in the borough of Mayfield, Lackawanna County.

The NEET Center will be will be marketed to the bioscience industry and is an ideal expansion of the Northeastern Pennsylvania Regional Bioscience Initiative. The NEET Center is launching the Keystone Life Science Incubator to become a test bed for innovation and research emerging technologies and new companies.

According to Karl F. Pfeiffenberger Jr., managing partner of NEET Center Associates LLC, the building has more than 35 enclosed offices, five laboratories, lab support spaces, three conference rooms, a conference center, an auditorium with a seating capacity of 250

NEET Center Associates LLC just recently announced the award of a $1.5 million Redevelopment Assistance Capital Program grant to assist in the acquisition and facility upgrades to The NEET Center.