Wall Street West, a $40 million tax-funded venture to attract New York City-based financial institutions to put their back-up operations in the Pennsylvania region, said that two of its partners will collaborate to develop a data centre in the area, according to Wall Street & Technology.

The new Pennsylvania data centre will provide hosting, disaster recovery and workspace recovery services for mid-sized to Fortune 500 clients in Pennsylvania, New York and New Jersey.

Data Based Systems International, Inc, a provider of high availability managed hosting disaster recovery and data center services, received a state economic development funding package totaling $1.67 million to help it build the 228,600 square feet data center at the TEK Park Campus in Breinigsville.

TEK Park was developed by the MRA Group, a partner in the Wall Street West initiative, as a location for companies in industries such as disaster recovery, nanotechnology, electronics, as well as research and development.