Coqui RadioPharmaceuticals Corp., a biomedical technology company, has chosen the City of Alachua to build a new production facility, which is expected to create more than 150 high-paying jobs.
Alachua County is an asset to the Super Region, most recently stepping up their clout in the biomedical and biosciences industry spheres with the attraction of a major biomedical technology company.
Aiming to remedy a global medical isotope shortage, Coqui RadioPharmaceuticals Corp. is planning to build a Molybdenum-99 medical isotope production facility in Florida.
Coqui had previously pledged to create 164 jobs in Florida with an average annual salary of $75,500 but they had also applied for the Qualified Target Industry Tax Refund Program, an incentive available for companies that create high wage jobs in targeted high value-added industries. Last month, the City and County commissions approved their portions of the deal, and last week Coqui officially announced its decision to move forward with a facility in the City of Alachua.
In addition to creating more jobs for the city, Coqui also plans to make a capital investment of $227.6 million over the next four years to build the facility, which will include two research-scale nuclear reactors, similar to what the county already has at the University of Florida.
This win for Alachua is another example of the Super Region becoming an emerging leader in biomedical research and global health.