It's called "The Hub" -- a redevelopment project in New Brunswick that Gov. Phil Murphy says will help realize his goal of making New Jersey a magnet for scientific and technological innovation.

Plus, he said, it will bring "lots" of new jobs to the state.

Murphy and a bevy of state, local, education, and business officials gathered Monday at Rutgers University to tout the long-planned 12-acre complex, which will mix residences, retail, research facilities, and space for science and tech companies.

Plans for the project go back five years -- well before Murphy was governor -- and Murphy stressed that Monday was not a "ribbon-cutting ceremony."

But the governor, a Democrat who took office in January, said there is now a "will" to get the project moving along.

"This is the first step in a long journey that will take a long time," the governor told reporters at the news conference at Rutgers' Winants Hall. "But it is a journey that will be worth it."

Rutgers President Robert Barchi called Murphy the "catalyst" for the project being kicked into gear.

The governor's office referred to the project as a partnership between the state, private corporations, and Rutgers, New Jersey's largest university.

Murphy said it falls in line with his effort to "grow the darn economy" in the Garden State -- especially what he calls the "innovation economy."

The hope, he said, is "The Hub" will attract top talent and businesses in the science and tech industries, as well as start-up companies.

Murphy added this will also be an opportunity for Rutgers, which he said is already one of the nation's best research schools, to reach "another level."

.@GovMurphy calls this a “very significant” opportunity, saying it will help grow N.J.’s “innovation economy.” pic.twitter.com/Uj7TtQuYnW — Brent Johnson (@johnsb01) March 19, 2018

But other details were scarce Monday.

Murphy said the project will be developed over "a couple of years," and he was uncertain as to who will pay for it or how much it will cost.

"It's too early to tell," the governor said.

Murphy said the New Jersey Economic Development Authority will conduct a planning and implementation study of the project and look for partners to sign on.

The site -- owned by New Brunswick and managed by DevCo, the city's redevelopment organization -- is currently an empty lot where the Ferren mall and parking deck used to be.

It's located across from the city's train station, about halfway between New York and Trenton -- and a short drive from a system of highways that crisscross in central Jersey.

An artistic rendering of "The Hub," which is planned for downtown New Brunswick.

New Brunswick Mayor James Cahill said a 4-acre portion of the site is "shovel-ready."

State Assembly Speaker Craig Coughlin, D-Middlesex, said the project will be "a wonderful economic driver" in a city that has a "history of reinventing itself."

The complex joins a long line of redevelopment projects that have reshaped New Brunswick -- the seat of Middlesex County, the state's second-most populous county -- in recent years.

The project's name is appropriate: New Brunswick's nickname is "The Hub City," because of its centralized location in the state and its transportation perks.

The Associated Press contributed to this report.

Brent Johnson may be reached at bjohnson@njadvancemedia.com. Follow him on Twitter @johnsb01. Find NJ.com Politics on Facebook.