BRUSS, Ind. — Bristol Myers Squibb is expanding its radiopharmaceutical manufacturing footprint in Indiana with a new $173 million facility planned for Whitestown that state officials say will strengthen the company’s ability to produce next-generation cancer therapies and create high-paying local jobs.
New campus to complement Indianapolis site
The investment, announced Thursday in a release from Gov. Mike Braun’s office, will fund construction of a 450,000-square-foot plant in the Anson Industrial Park in Whitestown. The project is being developed by RayzeBio, the Bristol Myers Squibb subsidiary the company acquired in 2023.
The Whitestown campus is intended to supplement RayzeBio’s existing 77,000-square-foot radiopharmaceutical manufacturing facility in Indianapolis, roughly 20 miles to the southwest, according to the announcement. Company officials say the two sites together will expand the firm’s capacity to produce radiopharmaceutical drugs and isotopes used in targeted cancer treatments.
Jobs, wages and timeline
Bristol Myers Squibb expects to add about 100 jobs across its Indianapolis and Whitestown locations by the end of 2029. The state release projects annual wages for those new positions to exceed $130,000.
- Investment: $173 million
- New facility size: 450,000 square feet
- Existing facility size: 77,000 square feet (Indianapolis)
- Projected new jobs by 2029: 100
- Projected average annual wages for new jobs: over $130,000
Construction is slated to begin this year. The Indianapolis facility, which came online in July 2025 after a roughly $160 million buildout, performs end-to-end production and is scaling up from clinical-stage work toward commercial manufacturing.
Company perspective and industry context
“Indiana is an important part of our strategy to build the infrastructure needed to advance the next generation of radiopharmaceutical therapies,” RayzeBio president Ben Hickey said in a statement. “This investment expands our manufacturing capabilities, creates high-quality jobs, and strengthens our ability to deliver innovation for patients.”
Radiopharmaceuticals pair radioactive isotopes with targeting molecules to deliver radiation directly to tumors. The class of therapies has gained momentum in oncology, and some manufacturers are moving toward isotopes with greater stability and alpha-emitting approaches such as actinium-225 (Ac-225), which companies and researchers view as a way to deliver highly targeted cell-killing radiation with less collateral damage to surrounding tissue.
RayzeBio’s Indianapolis site was described by the company as the first U.S. facility to combine isotope and drug product manufacturing in one location, capable of distributing commercial doses within days of production when scaled. The Whitestown campus is intended to increase that overall capacity.
Local and regional implications
For Whitestown and central Indiana, the project represents another anchor in a growing cluster of advanced manufacturing and life-science investments. Beyond direct hires, officials typically cite ripple effects for construction, suppliers, logistics and professional services when large-scale manufacturing facilities arrive.
State officials framed the move as part of Indiana’s broader economic development push to attract high‑value biotech and manufacturing investments. Details on incentives or state support tied to the project were not included in the release.
What to watch next
Key items to monitor as the project moves forward include the construction timeline, the specific job categories and hiring schedule for the new roles, and whether the company will pursue additional partnerships with clinical or research institutions in the region. The company has already indicated the plant will be equipped to produce advanced radiopharmaceutical therapies, which could increase Indiana’s role in a niche but growing segment of cancer treatment manufacturing.
| Item | Detail |
|---|---|
| Investment | $173 million |
| New facility size | 450,000 sq. ft. |
| Existing facility | 77,000 sq. ft. (Indianapolis) |
| Projected new jobs | 100 (by end of 2029) |
| Projected average wages | Over $130,000 annually |
The announcement marks another step in Bristol Myers Squibb’s strategy since acquiring RayzeBio in 2023. Company statements say the expanded Indiana footprint will help scale up manufacturing of radiopharmaceuticals for clinical and, increasingly, commercial distribution.
Local officials and the company will likely release additional details on hiring and construction milestones in the coming months as the project advances from planning to building.
