Department of Community and Economic Development (DCED) Secretary Rick Siger highlighted Pennsylvania’s $10 million investment supporting TerraPower Isotopes project at a groundbreaking ceremony for the nuclear innovation company’s new radioisotope manufacturing facility that will help develop cancer-fighting drugs in Philadelphia’s Bellwether District. The $450 million project will create at least 225 new jobs in Pennsylvania’s strong life sciences industry.
“TerraPower was created to improve the world through nuclear energy and science. Breaking ground today on the Bellwether Laboratory represents a defining chapter in TerraPower’s history—and in the history of actinium-225 manufacturing,” said Chris Levesque, President and CEO, TerraPower. “This new flagship, state-of-the-art manufacturing facility will produce actinium-225 at a scale the industry has never seen before, providing global pharmaceutical and biotechnology companies with the reliable, large-volume supply they need to advance their clinical programs and ultimately expand cancer treatment options for patients.”
TerraPower Isotopes’ 250,000-square-foot facility will produce actinium-225 for use in the development of cancer treatments. The company will be 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.
Before selecting the Bellwether District, TerraPower Isotopes evaluated more than 350 potential sites across the United States in a rigorous site selection process that included 49 site visits in eight metropolitan areas.
“Pennsylvania is aggressively competing for — and winning — major innovation projects, and today’s groundbreaking with TerraPower Isotopes is proof of that,” said Secretary Siger. “Our strategic $10 million grant helped to secure more than $450 million in private investment that will create hundreds of high-quality jobs, further positioning Pennsylvania as a national and global leader in life sciences.”
The funding proposal provided by DCED to TerraPower Isotopes included a $7 million grant through the PA SITES (Pennsylvania Strategic Investments to Enhance Sites) Program, and a $3 million Pennsylvania First grant. Additionally, because the Bellwether District is in a Keystone Opportunity Zone with a term that runs through 2043, the company will also receive those tax benefits.
“Today, TerraPower Isotopes celebrates breaking ground on the world’s most advanced actinium-225 manufacturing site,” said Scott Claunch, President, TerraPower Isotopes. “The Bellwether Laboratory is purpose-built to meet the needs of a growing industry that is working to transform how cancer is treated. With a highly trained and dedicated team, we are thrilled to be building our flagship facility right here in Philadelphia.”
