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A nuclear science company backed by Bill Gates will build a $450 million manufacturing facility for a cancer-fighting isotope at the Bellwether District in Southwest Philadelphia, Gov. Josh Shapiro and the company announced on Tuesday.
The facility will be built at the site of the old Philadelphia Energy Solutions Refinery and will bring more than 225 new full-time jobs over the next three years.
“TerraPower Isotopes’ decision to establish a major manufacturing facility in Philadelphia will create hundreds of good-paying jobs while strengthening the Commonwealth’s robust life sciences ecosystem,” said Rick Siger, the secretary of the Pennsylvania Department of Community and Economic Development. “By partnering with innovative companies and investing in strategic sites like the Bellwether District, we’re continuing to attract transformative projects that drive economic growth across Pennsylvania.”
Philadelphia won the project after more than 350 sites were considered for the facility that the company said will play a pivotal role in expanding global access to the cancer-fighting isotope Actinium-225, which is used for imaging and treatments.
“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 TerraPower Isotopes President Scott Claunch. “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.”
The Commonwealth of Pennsylvania will provide $10 million toward the project and TerraPower will lease the 250,000-square-foot facility once it is built.
