FORGE Coalition Awarded U.S. Economic Development Administration Grant to Build U.S. Southeastern Radiopharmaceutical Hub in Tampa Bay

More than $47 million EDA investment advances regional effort to bolster national priority in producing cancer-fighting radiopharmaceuticals, securing the domestic supply chain and advancing next generation therapies in cancer care 

TAMPA, Fla. (Oct. 29, 2026) — The Florida Oncology and Radiopharmaceutical Growth Engine, or FORGE, today announced it has been awarded $47.3 million by the U.S. Economic Development Administration to make Tampa Bay a hub for radiopharmaceutical innovation, treatment and cures. The regional efforts by the coalition address a national priority of developing, making and delivering these next generation therapies in the United States.

Led by Speros and Moffitt Cancer Center, FORGE unites Embarc Collective, the University of South Florida and Pasco-Hernando State College around five connected projects spanning isotope production, drug manufacturing, startup growth and workforce training. With matching funds from coalition partners, the portfolio totals approximately $88.2 million.

The coalition secured the grant through the EDA fiscal year 2025 Disaster Supplemental – Industry Transformation program, which helps communities build long-term economic resilience through multi-project portfolios in areas affected by natural disasters.

"Every radiopharmaceutical treatment starts with an isotope, and too much of that supply still depends on sources outside the United States," said Josh Carpenter, president of Speros and chief integration officer at Moffitt Cancer Center. "This investment positions Florida to take on a challenge that matters to every cancer patient and family in this country. We are building the facilities, the companies and the workforce to make, test, and deliver these therapies right here in Tampa Bay.”

The EDA-funded projects create a regional ecosystem for workforce and industry partners to advance the discovery and development of next generation therapies from bench to bedside. This includes:

• Integrated Theranostics Center, $16.9 million: Moffitt will build the core and shell of a 130,000-square-foot radiopharmaceutical manufacturing facility at Speros, designed to meet current good manufacturing practice standards. Equipped with cyclotrons and radiochemistry systems, it will produce isotopes and manufacture therapies for research, clinical trials and industry partners.
• Catalyst Convergence Center, $15 million: Moffitt will construct a four-story, 120,000-square-foot office and wet lab building at Speros that will become the permanent home for FORGE startups and growing biotech and precision medicine companies.
• FORGE Incubator, $4.3 million: Embarc Collective will staff and run programming for a 14,000-square-foot wet lab incubator in the Moffitt Discovery and Innovation Center, supporting up to 20 early-stage radiopharmaceutical and biotech companies.
• CORE Select Program, $6 million: The University of South Florida is creating specialized radiochemistry training for nuclear pharmacists, who prepare and dose radiopharmaceuticals for patients.
• IMPACT Program, $5 million: Pasco-Hernando State College is expanding its associate degree programs in radiography and imaging to train the technologists who perform theranostic scans.

“By assembling a coalition of world-class partners across research, health care, workforce development and entrepreneurship, FORGE represents a transformational opportunity for the Tampa Bay region to build an end-to-end radiopharmaceutical ecosystem,” said Tim Holcomb, PhD, CEO, Embarc Collective. “It has the potential not only to generate thousands of new jobs over the next decade, but also to establish a preeminent life sciences and healthcare ecosystem for innovative startups driving the next generation of revolutionary breakthroughs for the prevention and cure of cancer.”

“USF Health has the interprofessional infrastructure and academic expertise to train the next generation of nuclear pharmacists to help patients across Florida and beyond,” said Charles J. Lockwood, MD, MHCM, executive vice president of USF Health and dean of the USF Health Morsani College of Medicine. “We are excited that the USF Health Taneja College of Pharmacy will help train the pharmacists who will help transform how cancer is treated.” 

"FORGE will strengthen PHSC’s leadership in workforce education, positioning our college at the forefront of preparing imaging professionals for our region’s growing healthcare needs,” said Eric Hall, Ed.D., President, Pasco-Hernando State College. “With over $5 million in federal funding, our IMPACT project will expand radiography education and establish advanced credentials in CT and mammography. Through strategic partnerships with healthcare providers, PHSC continues to anticipate and respond to increasing workforce demand while creating pathways to high-skill, high-wage careers. This investment will open doors for our students, help local professionals advance their careers, and strengthen the skilled workforce that Moffitt and other healthcare providers rely on to care for our communities.”

The FORGE projects build on Moffitt's approximately $600 million investment at Speros, its 775-acre life sciences campus in Pasco County. FORGE-enabled growth is projected to support approximately 4,000 jobs across the Tampa Bay region at full operation, including 1,100 direct jobs at Speros, and generate $2.6 billion in regional earnings from 2026 to 2037 and $3.2 billion statewide. Companies launched through the FORGE Incubator are projected to attract $174 million in venture capital. For residents, the programs at USF and PHSC create direct pathways into radiopharmacy and imaging careers, keeping talent in high-wage jobs close to home and building the workforce of the future.

###

About Speros

Speros is a 775-acre campus in Pasco County, Florida, designed to accelerate cancer prevention and treatment through strategic industry partnerships and by forging collaborative space for scientific research and clinical care. Anchored by Moffitt Cancer Center, Speros imagines a new frontier for research and development with a mission-driven real estate venture where groundbreaking discoveries become lifesaving treatments. For more information, visit Speros.org or follow Speros on LinkedIn and X.

About Moffitt Cancer Center

Moffitt is dedicated to one lifesaving mission: to contribute to the prevention and cure of cancer. The Tampa-based facility is one of only 58 National Cancer Institute-designated Comprehensive Cancer Centers, a distinction that recognizes Moffitt’s scientific excellence, multidisciplinary research, and robust training and education. Moffitt’s expert nursing staff is recognized by the American Nurses Credentialing Center with Magnet® status, its highest distinction. For more information, call 1-888-MOFFITT (1-844-453-0589), visit moffitt.org, and follow the momentum on Facebook, Twitter, Instagram and YouTube.   

About Embarc Collective
Embarc Collective, a 501c3 non-profit, is a central landing zone for the most driven and focused startup builders in Florida, ranked as a top startup support program in the world by UBI Global. Embarc Collective offers vetted, curated live and on-demand coaching and programming, an ever-growing repository of resources and frameworks, and access to a network of corporate customers and investors, all amongst a peer community of 300 founders and cofounders of 145+ Florida-based early-stage tech startups and growth-stage companies. Embarc Collective member companies have created 1,400+ high-paying Florida-based tech and tech-enabled jobs, driving more than $100 million annually in economic returns to the state of Florida, and attract more than $100 million annually in seed, venture, and growth equity investment capital, capital that is invested directly into Florida-based companies. For more information, visit embarccollective.com.

About USF Health at the University of South Florida

USF Health is dedicated to making life better through research, education and patient care. It is the partnership of the USF Health Morsani College of Medicine, the College of Nursing, the College of Public Health, the Taneja College of Pharmacy, the School of Physical Therapy and Rehabilitation Sciences, the Biomedical Sciences Graduate and Postdoctoral Programs and USF Health’s multispecialty physicians’ group, the largest on Florida’s west coast. In 2026, U.S. News & World Report ranked the USF Health Morsani College of Medicine as a Tier 1 medical school for the second consecutive year, placing it among a premier group of 16 medical schools nationally to earn this highest possible designation. U.S. News also ranked the USF College of Public Health and the USF College of Nursing’s Master of Science programs as No. 1 in the state. Together with Tampa General Hospital, USF Health forms one of the nation’s premier academic health systems, with more than 1,000 physicians and providers caring for more than one million patients each year. USF Health is part of the University of South Florida, a top-ranked research university and member of the Association of American Universities (AAU). USF serves approximately 50,000 students and generates nearly $10 billion in annual economic impact for Florida. For more information, visit health.usf.edu.

About Pasco-Hernando State College

Pasco-Hernando State College connects students to opportunity and employers to talent through affordable, career-focused education. Serving Pasco and Hernando counties, PHSC offers more than 90 career program options in healthcare, business, aviation, public service, information technology and other fields, with pathways spanning bachelor’s and associate degrees, certificates and apprenticeships. Through hands-on instruction, advanced learning facilities and partnerships with regional employers, PHSC prepares graduates to enter essential professions and helps working professionals build new skills. Its healthcare programs strengthen the region’s talent pipeline, preparing students for careers that support patient care and community well-being. With small class sizes, highly credentialed faculty and tuition and fees among Florida’s most affordable, PHSC makes a high-quality education accessible while supporting the region’s workforce and economic growth. For more information, visit phsc.edu.