SHINE Medical Technologies was given a 91-acre parcel on the south side of Janesville for the company’s U.S. medical isotope production facility, the company announced recently.
“This transfer represents the next step toward production of life-saving medical isotopes, and I am grateful to the entire Janesville community for their early support and belief in SHINE,” SHINE CEO Greg Piefer said in a statement.
According to a release, the transfer is part of a tax increment financing (TIF) deal between SHINE and the city. It came after the biotech company met several conditions set by Janesville, including approval of the necessary construction permits from the city, state and the U.S. Nuclear Regulatory Commission (NRC), as well as a financial audit providing proof of financial viability through the construction of the facility.
SHINE will break ground in early May.