Gov. Phil Murphy signed into law a measure establishing a state innovation commission.

Murphy signed the legislation creating the New Jersey Commission on Science, Innovation and Technology Wednesday at the Biotechnology Development Center in North Brunswick.

The governor says the commission will spur entrepreneurship in the state.

The 17-member panel is the successor to a commission established under Republican Gov. Tom Kean Sr. in 1985. That commission became nonoperational in 2010.

Murphy says the new panel will have a $1 million budget and is expected to hire an executive director and other staff.

"Now, instead of watching research dollars going elsewhere, New Jersey is going to start bringing them back. We know New Jersey has everything right here to lead in the innovation economy. We have unmatchable people. We have an unmatchable location and we have unmatchable spirit,” said Murphy.

The governor also unveiled an online database of 3,000 public and private university faculty members. The Research with NJ database is aimed at helping connect tech and life science businesses with academics.