Bill Gates-founded nuclear company invests $450M in South Philly facility

The big picture: Philly edged out eight other cities to be the site of TerraPower's flagship East Coast site for producing actinium-225, a radioactive isotope used to fight cancer, per a news release from Gov. Josh Shapiro's administration.

State of play: TerraPower will lease a new 250,000-square-foot facility, with production expected to begin in 2029, per a news release.

• The project is anticipated to create 225 new jobs.
• The company secured $10 million in state grants for the project and is eligible for tax credits.

What they're saying: "Pennsylvania is competing again and winning major deals," Shapiro said in a news release.

• TerraPower president and CEO Chris Levesque added in a news release that the new facility will increase access to actinium-225 for researchers and drug developers, who are advancing new cancer treatments.

Between the lines: Gates founded the nuclear company TerraPower — the parent company of TerraPower Isotopes — in the 2000s with other investors.

• TerraPower is based in Bellevue, Washington.

Context: The Bellwether District is a multibillion-dollar campus spanning 1,300 acres along the Schuylkill River, and it sits on a former refinery site.

• Developer HRP Group secured its first tenant for the Bellwether District in late 2025 — canned drink manufacturer DrinkPAK.