Israel-Based Isotopia Molecular Imaging Plans Westfield, Indiana, Operations
The company’s U.S. subsidiary, Isotopia USA, will construct a new facility at 17075 Oak Ridge Road. The investment will include production clean rooms, analytical and microbiology laboratories, packaging and logistics systems, and precursor isotope recycling systems. Production is scheduled for the end of 2024.
“The state of Indiana and the city of Westfield have rolled out the welcome mat,” said Todd Hockemeyer, CEO of Isotopia USA. “This support from our new community will help accelerate our efforts to bring this critical medical isotope to the market as soon as 2024. Indiana is one of the most business-friendly states in the U.S., while Westfield is an ideal community with great schools and excellent housing. We look forward to being a corporate partner with the city and state to create highly desirable, well-paying jobs in this exciting field doing good work treating cancer.”
Based on the company’s investment and job creation plans, the Indiana Economic Development Corporation (IEDC) committed an investment in Isotopia USA of up to $1.1 million in the form of incentive-based tax credits and up to $100,000 in workforce training grants. These tax credits are performance-based, meaning the company is eligible to claim incentives once Hoosiers are hired. The city of Westfield has committed additional incentives valued at up to $1.42 million in support of the project.
“Indiana’s life sciences sector continues to grow, generating a $79 billion economic impact and providing life-changing products, pharmaceuticals and medical devices to customers across the world,” noted Indiana Secretary of Commerce David Rosenberg. “Isotopia’s decision to locate its first U.S. operation in Indiana is a testament to our competitive business climate and the strength of the Hoosier life sciences ecosystem and its skilled workforce.”
Isotopia Molecular Imaging is a global pharmaceutical company that develops, produces and distributes cutting-edge diagnostic and therapeutic radioactive isotopes and advanced PET and SPECT radiotracers. The company has production operations in Israel, Europe and North America.
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