The university's trustees designated the area for a research park in 1989.[1] Initially known as the Penn State Research Park[2][3] and opened in 1994, its stated mission was to be the "place where collaboration between the University and private sector companies can grow,"[4] and to facilitate the transfer of University-based knowledge "to the market place and to foster economic development".[5] It was renamed Innovation Park at Penn State in July 2000.[6]
The area is the location of a number of university offices, the
Penn State World Campus, a conference center, and more than 50 private companies. The production facilities of
WPSU-TV and
WPSU-FM moved there in 2005.[7]