The Hershey Co. will take space at University of Pennsylvania's Pennovation Center, making it the first corporate tenant at the school's 58,000 square-foot, business-and-technology incubator at 34th Street and Grays Ferry Avenue.

Hershey's Advanced Technology & Foresight Lab at the center will take 1,500 square feet and will study innovations in manufacturing, packaging, food production and consumer science, Penn said in a release on Wednesday.

The company's tenancy will take the form of a "corporate sponsorship," in which it works with Penn researchers and students, as well as other private sector businesses ranging from startups to mature corporations, Penn said.

Pennovation Center, part of the larger Pennovation Works development on the southern bank of the Schuylkill, is schduled to open in August 2016.

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