Governor Josh Shapiro announced on March 17th the Commonwealth has secured a $450 million investment from nuclear science company TerraPower Isotopes to establish a radioisotope manufacturing facility in Philadelphia that supports the development of cancer-fighting drugs. The Commonwealth is investing $10 million to support this project, which will create 225 new full-time jobs over the next three years.
“TerraPower Isotopes will lease a 250,000-square-foot, build-to-suit facility in the Bellwether District of Philadelphia and produce actinium-225 for use in the development of cancer treatments. TerraPower Isotopes becomes another major tenant at the Bellwether District, a 1,300-acre state-of-the-art commercial redevelopment project underway in South and Southwest Philadelphia that is reimagining the former Philadelphia Energy Solutions refinery into a hub for economic development, advanced manufacturing, and innovation,” the announced noted.
Before selecting the Bellwether District, TerraPower Isotopes evaluated over 350 potential sites across the United States in a rigorous site selection process that included 49 site visits in eight metropolitan areas.
“Pennsylvania is competing again and winning major deals – this investment in the Bellwether District will create tens of thousands of jobs and real economic opportunity throughout the Greater Philadelphia region,” said Governor Shapiro. “Companies are choosing to grow here because we’ve put a real strategy in place — the first comprehensive economic development plan in two decades — and we’re delivering results by cutting red tape, investing in key industries like life sciences, and strengthening our workforce. Pennsylvania is here to win, and we will continue to aggressively pursue projects like this that bring jobs, innovation and help the Commonwealth continue to lead the way in life sciences.”
“Today marks a major milestone for TerraPower Isotopes and for the future of precision medicine. This new facility is a testament to the demand for actinium-225 as part of the growing industry which is transforming how cancer is treated,” said Scott Claunch, President, TerraPower Isotopes. “Our team is proud to be building a large-scale manufacturing facility in Philadelphia, which will play a pivotal role in expanding global access to this rare isotope.”
“TerraPower Isotopes’ decision to locate its flagship East Coast facility at The Bellwether District is a major win for Philadelphia,” said Philadelphia Mayor Cherelle L. Parker. “This investment will create hundreds of good-paying jobs, strengthen our advanced manufacturing and life sciences sectors, and expand economic opportunity. Exciting things are coming to South Philly, and we are just getting started. This means more economic mobility for Philadelphians.”
“This TerraPower project represents a strong investment in the future of our city and our region,” said Ryan Boyer, Philadelphia Building and Construction Trades Council Business Manager. "We are honored to build TPI's Bellwether Laboratory to support the production of vital medical isotopes that health care professionals rely on to diagnose and treat cancer and other serious diseases. Our members look forward to delivering this world-class project that will significantly contribute to advancing the health and well being of communities here in Pennsylvania and across the country.”
