Until a few days ago, few people in this region knew what a high-performance computing center was or how one operated.

Most individuals are still somewhat fuzzy on the matter — it is a hard concept to grasp — but the phrase is fast becoming part of the local lexicon after Gov. Deval Patrick and a host of college presidents recently unveiled preliminary plans to create such a center in Holyoke.

The Paper City, it seems, is the right place at the right time, at least as it pertains to a high-performance computing center, or HPCC, which can facilitate research in such areas as life sciences, clean energy, and climate/environmental modeling. Individual schools have their own small HPCCs, but what the state needs is a large facility that can bring vast amounts of computing power to all the players involved.

Such centers need three things — a high-speed network, electrical power (preferably of the ‘green’ variety), and cooling infrastructure (again, ‘green’ is preferred). That’s because computers have to be cooled and maintained, and the costs of doing so are now the same, or more, than buying the equipment. Holyoke has necessary components in abundance and all at affordable prices, which is why more than 100 people were squeezed into a small meeting room at the Holyoke Public Library to hear the governor and those college presidents talk about this concept.

What they were told is that the parties involved will now take the next 120 days to decide if this is doable, and if so, how to go about doing it. As UMass President Jack Wilson told BusinessWest, those involved will look at this from two angles: can they afford to do this? And can they afford not to do it?

We believe, as Wilson does, it’s a case of the latter, and certainly hope that these constituencies can come together and make this happen. This is not the best of economies in which to be putting together an $80 million to $100 million project — there are three main groups involved, private industry, academia, and state government, and all three are hurting — but where there’s a will, hopefully people can find a way.

That’s because there appears to be too much riding on this for it not to become reality.

For starters, there’s the Bay State’s ability to compete with other regions of the country, especially those that have HPCCs. North Carolinia’s Research Triangle has one, California has a few, and Pennsylvania and Tennessee now have facilities. As Wilson told BusinessWest, this state is already very much behind these regions, and needs desperately to catch up.

And then, there’s the future of Holyoke and this region. Both the city and the Pioneer Valley have been looking for that proverbial ‘next big thing.’ The high-performance computing center could be it. It will help give the area a new identity while also spawning new business opportunities, and making this region a far more attractive landing spot for young talent.

As for Holyoke, one of the Commonwealth’s so-called Gateway Cities, the older industrial centers now trying to reinvent themselves, the HPCC project represents a way to restore pride and vitality in a community that is very much on the comeback trail and needs a few more pieces to complete the puzzle.

One of those pieces is a core of young professionals who could, and hopefully will, live, work, and play in the city, and thus make it a community that individuals and business owners will want to invest in.

The next 110 days or so will be a pivotal time for Holyoke and the region. Opportunities like this one don’t materialize often, and it’s paramount for the state and all the other players involved to give this their very best shot.