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OSWEGO, N.Y. -- Oswego officials are considering a proposal that would bring a floating science and technology center to the city's harbor. The complex would house research and lab space for companies that are focused on alternative energy.

In addition to the research areas, the facility would include living space for employees and a 10,000-seat amphitheater, combining both technology and entertainment.

It would be anchored in the Oswego Harbor and would cost about $120 million to build. According to officials, once the project is completed, the facility would provide about 120 jobs.

"It's a life and energy science institute and it's designed to be an incubator for technology that will create jobs, that will create new economic development out of the city of Oswego," said Oswego Mayor Tom Gillen.

"Transformation of the city, focusing on increasing the tourism, actually increasing green and sustainable technology. When you start putting those priorities together, they actually overlay what we're proposing quite easily," explained Joe Pilotta of the Digital Finance Group.

Construction on the facility would take about two years to complete. City officials said the next step is to hold a public hearing on the project.