NorthStar Medical Radioisotopes LLC is planning to build a $194 million production plant in Beloit that could employ as many as 150 workers by 2016.
NorthStar Medical hopes to break ground by mid-2012 and be making products for market by 2013, said Glenn Isensee, chief technology officer, on Wednesday.
NorthStar Medical, which is based in Madison, was founded in 2004 to develop technologies for making isotopes for medical applications. The company will use linear accelerators to produce the isotopes at the 82,000-square-foot building, Isensee said.
The state Department of Commerce had designated NorthStar Medical as an enterprise zone, which makes the company eligible for as much as $14 million in tax credits. Read a Milwaukee Journal Sentinel here.