WESTFIELD, Ind. – An Israel-based pharmaceutical company will invest millions of dollars to build its first U.S. facility in Westfield.
Isotopia Molecular Imaging’s newly formed U.S. subsidiary will spend about $20 million to establish its flagship operation in the Hamilton County city, creating up to 50 “new, high-wage jobs by the end of 2027,” according to the Indiana Economic Development Corporation.
Isotopia “develops, produces and distributes cutting-edge diagnostic and therapeutic radioactive isotopes and advanced PET and SPECT radiotracers.” The company has facilities in Israel, Europe and North America.
Isotopia’s Westfield facility, to be located at 17075 Oak Ridge Road, will house production clean rooms, analytical and microbiology laboratories, packaging and logistics systems and precursor isotope recycling systems. The company will soon begin production on a radioactive medical isotope used in cancer drugs.
The IEDC committed $1.1 million to the company in incentive-based tax credits and up to $100,000 in workforce training grants. The tax credits are performance-based, meaning the company can claim the incentives once Hoosiers are hired. Westfield committed incentives of up to $1.42 million in support of the project.
The company will begin hiring immediately, with a focus on technical, engineering, quality and scientific positions.