The City of Westfield in Indiana has approved a 10-year tiered tax abatement for Isotopia, a nuclear medicine company that plans to open its North American headquarters in the city. Isotopia, an Israel-based company, specializes in developing and producing diagnostic and therapeutic radioactive isotopes for oncology and cancer treatment. The company is expected to create 50 new jobs and make a capital investment of $17.4 million. The tax abatement will provide 100% abatement for the first 5 years, and then gradually decrease each year until it reaches 17% in the final year. The total abatement is estimated to be around $511,878. Westfield was chosen as the location due to available real estate, talent, logistics infrastructure, and economic development incentives.
Wed, 07 Feb 2024 11:00:30 GMT | Current in Carmel