Lawrence Regional Technology Center celebrated its five-year anniversary and results of its economic development on Thursday.

The LRTC also used the event to announce a proposed $8 million, 20,000-square-foot wet-lab incubator on Kansas University’s West Campus in Lawrence.

The proposed incubator is designed to promote the creation, growth and attraction of promising life-sciences companies to the Lawrence area. The incubator would break ground in early 2009 and be completed in 2010 if approved.

The Lawrence City and Douglas County commissions have both approved financial support to the wet-lab incubator for the next 10 years.