Two investments in Hamilton to create 150 new jobs
A pair of investments slated to create around 150 new jobs were announced in Hamilton on Tuesday.
Fusion Pharmaceuticals Inc., a Steeltown-based biotech company, expanded its footprint with the opening of its new radiopharmaceutical manufacturing facility inside McMaster Innovation Park.
The Longwood Road South facility, which spans approximately 27,000 square feet, will help support the company's growing pipeline of targeted alpha therapies (TATs)," according to a press release.
Fusion Pharmaceuticals, which was founded in 2015 by Mac chemistry professor John Valliant, develops cancer therapy products, including a delivery system that seeks out and infiltrates cancer cells to deliver doses of radiation to a precise location.
The new facility, located next door to the company's research and development labs, will create approximately 50 jobs in the city, said Amanda Cray, senior director of investor relations and corporate communications at Fusion, in an email.
Set to be fully operational by 2024, the plant is expected to produce more than 100,000 doses of TATs per year, according to the company.
Up on the east Mountain on Tuesday, UPS Canada broke ground on its new 315,000-square-foot supply chain solutions facility on Glover Road.
Construction on the facility will begin immediately, with the plant slated to start operating by the end of 2024, said Rachele Tang, a public affairs representative for the company, in an email.
The new facility, which will be one of the largest of its kind in Canada, will provide warehouse space and services for customers across the country and create 100 new jobs, according to UPS.
In a statement to The Spectator, Hamilton's director of economic development Norm Schleehahn said the two investments represent the economic diversity" of the city.
Not only are we nationally renowned for our manufacturing excellence, but increasingly we are gaining an international reputation as a centre of excellence for life sciences applied research and as a logistics powerhouse," said Schleehahn.
The development of the UPS facility represents an investment of $65 million, according to Michael Marini, marketing coordinator for economic development.
Fallon Hewitt is a reporter at The Spectator. fhewitt@thespec.com