COLUMBIA — Northwest Medical Isotopes plans to build a production facility at Discovery Ridge research park, creating 68 jobs, the company announced Thursday.
Salaries for the new jobs would average around $77,000, said Amy Susan, director of communications and marketing with the Missouri Department of Economic Development. The company also plans to make a $50 million capital investment.
The number of jobs and the amount invested qualifies the company to receive tax credits of up to $883,623 through the Missouri Works Program and up to $100,000 through the Missouri Works Training Program, Susan said.
The company expects to break ground on the project next year and begin operations in 2016.
Northwest Medical Isotopes produces Molybdenum-99, an isotope used in the treatment of cancer and heart, kidney and bone diseases. Hospitals use molybdenum-99 to make technetium-99m, which is used in diagnostic tests.
The arrival of Northwest Medical Isotopes "goes to one of our key strategic themes, which is to expand nuclear medicine here in Columbia," said Hank Foley, executive vice president for academic affairs for the UM System.
The MU Research Reactor Center also produces medical isotopes, and it was a factor in bringing Northwest Medical Isotopes to Columbia, according to a Department of Economic Development media release.
Fifty thousand people a day receive a medical scan that uses the isotope, said Nicholas Fowler, CEO of Northwest Medical Isotopes.
"We very much and sincerely are looking forward to being a part of this community," he said.
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