Terrapower Isotopes announces new Pennsylvania factory for cancer drugs

Terrapower Isotopes announced March 17 that it would build a new $450 million flagship actinium-225 manufacturing site in Philadelphia. The plant will substantially increase the company’s production capacity for the anti-cancer drugs, according to a company statement. Terrapower said it expects production of cGMP actinium at the plant will begin in 2029. According to state officials, Pennsylvania will support the project, expected to create 225 jobs, with at least $10 million in grants for economic development and manufacturing tax credits.

The state’s support comes in the form of a $7 million grant from the Pennsylvania Strategic Investments to Enhance Sites program, a $3 million Pennsylvania First grant. The state also said Terrapower is eligible for a manufacturing tax credit and a qualified manufacturing and innovation reinvestment deduction program.

What people are saying

“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 of TerraPower Isotopes. “Our team is proud to be building a large-scale cGMP manufacturing facility in Philadelphia, which will play a pivotal role in expanding global access to this rare isotope.”

“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.”

“TerraPower Isotopes’ presence in Philadelphia will strengthen a place where health, science, and technology converge to address some of the world’s most pressing challenges,” said Kevin B. Mahoney, Chief Executive Officer, University of Pennsylvania Health System. “The city has a long history of turning ideas and discoveries into advances that accelerate progress, and TerraPower Isotopes’ arrival brings new expertise and momentum to the region’s dynamic research community.”

“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 DCED Secretary Rick Siger. “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.”

“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.”

Manufacturers investing in Pennsylvania

Schreiber Foods to spend $132.9 million on Pennsylvania yogurt plant
The expansion will create 47 new jobs and purchase dairy from area farms.

Berwick Industries to spend $5 million purchasing closed Pennsylvania ribbon and bow factory
The re-opened gift wrapping products factory is expected to create 125 jobs.

Eli Lilly continues building spree with $3.5 billion Pennsylvania plant announcement
The pharmaceutical giant will build a 925,000-square-foot campus in a historical steelmaking region.