Tampa Bay Secures $47 Million Federal Grant for Cancer Drug Production

Residents of Tampa Bay will see new construction and training programs at the Speros campus in Pasco County following the announcement of a major federal grant. The U.S. Economic Development Administration awarded $47.3 million to the Florida Oncology and Radiopharmaceutical Growth Engine, or FORGE, on Oct. 29. This funding is part of a larger five-project package that totals approximately $88.2 million when combined with matching funds from partners.

The primary objective of the grant is to reduce the region's reliance on foreign sources for medical isotopes. These radioactive materials are essential for radiopharmaceuticals, drugs that use radiation to locate and treat tumors. Josh Carpenter, president of Speros and chief integration officer at Moffitt Cancer Center, stated that the coalition is building the necessary facilities, companies, and workforce to produce and deliver these therapies locally.

The largest portion of the federal funding, $16.9 million, will build a 130,000-square-foot manufacturing plant at Speros. This facility will house cyclotrons that produce isotopes and manufacture drugs for research, clinical trials, and industry partners. An additional $15 million will construct a four-story office and lab building designed to serve as a permanent home for biotech startups and growing companies. A third project, funded at $4.3 million, will establish an incubator run by Tampa-based Embarc Collective to support up to 20 early-stage firms.

The remaining funds focus on workforce development. The University of South Florida will receive $6 million to train nuclear pharmacists who prepare and dose the drugs for patients. Pasco-Hernando State College will use $5 million to expand its radiography and imaging programs, training the technologists who perform medical scans. Eric Hall, president of PHSC, said the investment will allow the college to add advanced credentials in CT and mammography, helping local professionals advance their careers.

Tim Holcomb, CEO of Embarc Collective, noted that the effort could create thousands of jobs over the next decade. Charles Lockwood, dean of the USF Health Morsani College of Medicine, said the Taneja College of Pharmacy will help train the pharmacists needed to transform cancer treatment. The coalition won the grant through an EDA program designed to help disaster-hit areas build long-term economic resilience.

These projects expand on Moffitt’s existing $600 million investment at Speros. At full operation, the FORGE initiative is projected to support about 4,000 jobs across the region, with 1,100 located at Speros. The growth is expected to generate $2.6 billion in regional earnings through 2037 and $3.2 billion statewide. Startups emerging from the incubator are projected to attract $174 million in venture capital.