Governor Shapiro Secures $450 Million Investment from TerraPower Isotopes | Commonwealth of Pennsylvania

Harrisburg, PA - Today, Governor Josh Shapiro announced the Commonwealth has secured a $450 million investment from nuclear science company TerraPower Isotopes to establish a radioisotope manufacturing facility in Philadelphia that supports the development of cancer-fighting drugs. The Commonwealth is investing $10 million to support this project, which will create 225 new full-time jobs over the next three years.

TerraPower Isotopes will lease a 250,000-square-foot, build-to-suit facility in the Bellwether District of Philadelphia and produce actinium-225 for use in the development of cancer treatments. TerraPower Isotopes becomes 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 over 350 potential sites across the United States in a rigorous site selection process that included 49 site visits in eight metropolitan areas.

"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 received a funding proposal from the Department of Community and Economic Development (DCED) for a $7 million grant through the PA SITES (Pennsylvania Strategic Investments to Enhance Sites) Program, and a $3 million Pennsylvania First grant. The company is also eligible to apply for the Manufacturing Tax Credit program and the Qualified Manufacturing and Innovation Reinvestment Deduction program, which could provide significant tax savings.

"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."

Additionally, because the Bellwether District is located in a Keystone Opportunity Zone with a term that runs through 2043, the company will also receive those additional tax benefits.

The Pennsylvania First Program, which connects businesses with trained workers and supports job retention and capital investments, would receive an additional $10 million in Gov. Shapiro's proposed 2026-27 budget, for a total of $38 million.

TerraPower Isotopes is a mission-driven organization that focuses on solving global challenges using nuclear science. The company applies innovative expertise and proven development methods to providing a secure isotope supply chain for targeted alpha therapies development. TerraPower Isotopes is increasing global access to actinium-225, supporting the drug development industry by producing advanced radioisotope generators that enable the efficient and automated extraction of rare isotopes with life-saving potential.

"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, TerraPower Isotopes. "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 is a project of HRP Group, a vertically integrated real estate investment company focused on the transformation of complex industrial sites. HRP Group is transforming the former industrial site into a global model of sustainable development and design. Comprising nearly 2 percent of the city's landmass, the site is less than three miles from Center City, Philadelphia International Airport, I-95, and I-76, and less than five miles from PhilaPort, with connectivity to existing rail and maritime infrastructure. Last December, canned beverage manufacturer DrinkPAK announced that they are establishing a 1.4-million square-foot manufacturing facility in the Bellwether District that will serve as the company's flagship manufacturing facility on the East Coast.

"TPI's decision to choose the Bellwether District for their flagship manufacturing facility is a generational opportunity for Philadelphia and Pennsylvania to be at the forefront of an emerging cancer-curing industry that has the potential to materially alter the course of modern medicine," said Andrew Chused, Chief Investment Officer, HRP Group. "This investment is validation of our belief in the strength of Philadelphia's fundamentals and positions The Bellwether District for exponential growth as a premier global innovation ecosystem."

The Commonwealth has also invested an additional $40 million in Transportation Infrastructure Improvement Funds to support improvements to state roadways to facilitate the integration of the Bellwether District site into the surrounding transportation network.

"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."

"NABTU is proud to stand with TerraPower on building TPI's Bellwether Laboratory in the great city of Philadelphia," said Sean McGarvey, President of North America's Building Trades Unions. "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. We are pleased to see that commitment take root in Pennsylvania on this innovative project, which will pave the way for medical, economic, and technological growth across America."

This TerraPower project represents a strong investment in the future of our city and our region," said Ryan Boyer, Philadelphia Building and Construction Trades Council Business Manager. "We are honored to build TPI's Bellwether Laboratory to support the production of vital medical isotopes that health care professionals rely on to diagnose and treat cancer and other serious diseases. Our members look forward to delivering this world-class project that will significantly contribute to advancing the health and well-being of communities here in Pennsylvania and across the country."

This project was coordinated by Governor Shapiro's BusinessPA team, an experienced group of economic development professionals dedicated to helping businesses succeed in Pennsylvania through tailored guidance, strategic partnerships, and financial resources.

The Bellwether District is part of Governor Shapiro's Pennsylvania (PA) Permit Fast Track Program, which was designed to streamline the Commonwealth's permitting process for key economic development and infrastructure projects, increase transparency, and accelerate timelines to ensure state government delivers results quickly and efficiently. Created under Executive Order 2024-04, the Fast Track Program - administered through the Office of Transformation and Opportunity (OTO) - helps develop, manage, and coordinate permitting for complex, high-impact projects across government agencies and private partners, ensuring project sponsors get answers in a timely manner.

Today's announcement is another example of how the Shapiro Administration is focused on supporting Pennsylvania's biotech ecosystem. Life sciences companies like Johnson & Johnson, Eli Lilly, Eurofins Lancaster Laboratories, B. Braun, and GSK have announced major expansions in Pennsylvania, bringing new jobs and R&D investments into the Commonwealth.

Pennsylvania's life sciences sector is a national powerhouse, employing over 100,000 people across nearly 3,100 companies and world-renowned research institutions. Over the past five years, Pennsylvania researchers and companies have secured over 10,700 new life sciences patents - the fourth-highest total in the country.

This project was coordinated by Governor Shapiro's BusinessPA team, an experienced group of economic development professionals dedicated to helping businesses succeed in Pennsylvania through tailored guidance, strategic partnerships, and financial resources.

Pennsylvania's Business Climate and Growing Economy is Getting National Recognition

Since taking office, Governor Shapiro has made Pennsylvania more competitive - cutting red tape, streamlining permitting and licensing, and attracting over $40.4 billion in private-sector investment that has created more than 22,424 good-paying jobs across the Commonwealth. That includes the largest private-sector investment in Pennsylvania history - Amazon's initial $20 billion investment to build new AI and cloud computing campuses, creating thousands of high-tech and construction jobs.

• Pennsylvania is the only state in the Northeast with a growing economy, according to a report from Axios based on analysis done by Moody's Analytics Chief Economist Mark Zandi. This latest recognition builds on growing evidence that Pennsylvania's economy is strong, competitive, and on the rise.

• Recently, Area Development ranked Pennsylvania among the top 20 "Best States for Business" - the only Northeastern state to make the list - and placed the Commonwealth in the top 10 for "Site Readiness Programs."

• Site Selection Magazine has named Pennsylvania one of the top business climates in the nation. The Commonwealth is 11th in the 2025 Business Climate Rankings, up seven spots from last year.

• New data from the U.S. Bureau of Labor Statistics shows that Pennsylvania ranks among the top states in the nation for five-year new business survival, underscoring the strength and resilience of the Commonwealth's economy under Governor Shapiro's leadership.

Governor Shapiro's 2026-27 budget proposal builds on that momentum by investing in long-term economic growth and ensuring communities across the Commonwealth can compete and win. This budget increases funding for innovation in the areas of opportunity laid out in Pennsylvania's economic development strategy - including life sciences, robotics and technology, energy, manufacturing, and agriculture.

• The PA First Program, which connects businesses with trained workers and supports job retention and capital investments, will receive an additional $10 million for a total of $38 million in this budget.

• Innovate in PA 2.0: Back in 2013 under a Republican Governor, Pennsylvania launched the Innovation fund. Building off of that legacy, this budget creates the Innovate in PA 2.0 program to deploy nearly $100 million into the state's innovation economy. Innovate in PA 2.0 would provide capital for promising startups - following in the footsteps of companies like Gecko Robotics in Pittsburgh or Gilson Snow in Selinsgrove - fund clinical trials for the life sciences and develop a workforce and education pipeline to help these companies succeed.

• Ag Innovation Grant Program: Pennsylvania agriculture supports over 48,800 farms, nearly 600,000 jobs, and contributes $132.5 billion annually to our economy. Governor Shapiro understands that economic success is dependent on our rural communities and farmlands - that's why Pennsylvania has leaned into the innovation found on our farms and has put real capital behind our farmers. The 2026-27 budget includes a $9 million increase - a total of $19 million - for the first-in-the-nation Agricultural Innovation program.

Learn more about the Shapiro Administration's efforts to support Pennsylvania's workers and businesses and spur the economy, and discover how the Administration is creating economic opportunity to build a stronger, more competitive economy for all Pennsylvanians.