SOUTH BEND, Ind. (AP) — Independently owned pharmaceutical company Spectron is planning to build a new $2.7 million facility just south of downtown South Bend and add 39 new jobs.
The South Bend Tribune reports that the medical radiopharmaceuticals manufacturer is seeking a 5-year, $109,000 tax abatement on the project to assist with the purchase of $2.7 million in new equipment, including a particle accelerator and support equipment.
The jobs would pay an average of $50,000 a year.
According to Spectron CEO Greg Hiatt, the new facility will be used to manufacture technetium 99, a scarce radioactive isotope used in nuclear medicine.
The Common Council granted preliminary approval of the tax abatement on Monday. It will consider final approval later this month.