Nuclear science company TerraPower Isotopes plans to establish a radioisotope manufacturing facility in Philadelphia, representing a $450 million private investment that officials said Tuesday will create 225 new jobs over the next three years and bolster Pennsylvania’s life sciences sector.
The company will lease a 250,000-square-foot, build-to-suit facility in the Bellwether District, a large-scale commercial redevelopment project transforming the former Philadelphia Energy Solutions refinery site in South and Southwest Philadelphia. The facility will produce actinium-225, a rare isotope used in the development of cancer-fighting drugs.
TerraPower Isotopes conducted an extensive site selection process, evaluating more than 350 locations across the United States and completing 49 site visits across eight metropolitan areas before settling on the Philadelphia site.
The Commonwealth is contributing $10 million toward the project, including a $7 million grant through the PA SITES Program and a $3 million Pennsylvania First grant. TerraPower will also benefit from the Bellwether District’s Keystone Opportunity Zone designation, which carries additional tax incentives through 2043, and is eligible to apply for manufacturing tax credit programs.
“Today marks a major milestone for TerraPower Isotopes and for the future of precision medicine,” said TerraPower Isotopes President Scott Claunch. “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. 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 Bellwether District, developed by HRP Group, spans roughly 1,300 acres and sits less than three miles from Center City Philadelphia, Philadelphia International Airport, and major interstate highways. TerraPower joins canned beverage manufacturer DrinkPAK, which announced last December it would open a 1.4-million-square-foot manufacturing facility at the same site.
“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.”
Pennsylvania’s life sciences industry employs over 100,000 workers across nearly 3,100 companies statewide. The sector has generated more than 10,700 patents over the past five years, ranking fourth nationally.
Construction will involve union labor through North America’s Building Trades Unions (NABTU), which praised the project’s commitment to workforce standards and safety.
“Across the country, TerraPower has demonstrated a strong commitment to partnering with highly skilled union building trades professionals and prioritizing safety, quality, efficiency, and the creation of middle-class, family-sustaining careers,” said Sean McGarvey, president of NABTU.