Tampa Bay has secured a $47.3 million federal grant from the U.S. Economic Development Administration to enhance domestic production of cancer-fighting radiopharmaceuticals. This funding, awarded on October 29, supports the Florida Oncology and Radiopharmaceutical Growth Engine, a coalition led by Moffitt Cancer Center and Speros. The initiative aims to reduce reliance on foreign isotope sources by constructing new facilities and training local professionals. With additional matching funds, the total investment reaches approximately $88.2 million across five key projects. These projects include a new manufacturing plant, office space for startups, an incubator, and educational programs designed to build a skilled workforce.
Key Points:
- The grant announced on October 29 amounts to $47.3 million from the U.S. Economic Development Administration
- The coalition is led by Moffitt Cancer Center and Speros, which operates a 775-acre life sciences campus in Pasco County
- A $16.9 million manufacturing plant will be constructed at Speros to produce isotopes and drugs
- At full operation, the initiative supports about 4,000 jobs across the region and is projected to generate $3.2 billion statewide through 2037
