The Boone County Commission voted on September 20 to approve Chapter 100 Revenue Bonds for the new Northwest Medical Isotopes facility to be built in Discovery Ridge Research Park.
The bonds allow the county to provide financing to help the company build its Columbia facility while giving it a 50 percent tax break on real estate and personal property taxes over the next 10 years.
After the tax breaks, the company will pay an estimated $6.5 million to local taxing districts over the next 10 years. All the local tax districts affected voted in favor of the incentive.
NWMI will make a $108 million investment in the plant and will create 104 new jobs that will pay above the county’s average wage.
Northwestern Medical Isotopes announced in 2014 its plans to build a facility in Columbia, and received its building permit from the Nuclear Regulatory Commission in May of this year. Plans are to break ground on the facility in early 2019. The facility will be primarily used to produce molybdenum-99, which is used in medical scans for cancer, heart disease, and bone and kidney disease.