Coqui RadioPharmaceuticals Production Facility Brings 164 High-Paying Jobs to Alachua

Alachua will be home to Coqui RadioPharmaceuticals' $250 million medical radioisotope production facility. The facility is expected to employ 164 people with an average salary of $75,000. The facility will be located on 25 acres of land south of Progress Park that is owned by the University of Florida.

Coqui chose Alachua for proximity to UF’s nuclear research reactor. The location will allow the pharmaceutical company to collaborate with UF engineering and medical researchers, and will be near Progress Park, a medical research and biotech park. The facility will also provide job opportunities for both UF and Santa Fe College graduates. Alachua County is honored to have Coqui here as a part of the growing community.

Coqui RadioPharmaceuticals incorporated in 2009 to address the worldwide shortage of Molybdenum-99.  MO-99, used in medical diagnoses and treatments for diseases including Cancer, Alzheimer’s, renal disease, and bone traumas, is utilized in approximately 18 million procedures in the U.S. and 30 million worldwide. Coqui will be the first company in the U.S. to produce MO-99. After submitting an application to the Nuclear Regulatory Commission in mid-2015, the company could begin construction in late 2016 or early 2017 and begin manufacturing in 2020.  Coqui has selected INVAP, an Argentine firm, to design and construct the new facility. The facility will include two research-scale nuclear reactors that use low-enriched uranium.

 

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Nick Banks

Nick created Front Street Commercial Real Estate Group in 2002 and spent the first eight years developing and acquiring office and retail projects in South Florida as well as North Central Florida. In 2010 the focus of the firm was shifted to primarily serve third party clients and perform brokerage, property management and mortgage banking functions. Nick has personally developed and acquired nearly 200,000 square feet of office and retail properties in markets throughout Florida. Prior to founding Front Street, Nick was the Director of Finance and Dispositions for Stiles Corporation in Fort Lauderdale where he financed and sold over $500 million in commercial real estate. Before joining Stiles, Nick was an Associate Director at GE Capital Real Estate where he sourced over $200 million in financing throughout Florida. Nick is a graduate of the University of Florida with a degree in Finance and a concentration in Real Estate. He serves as a board member and current vice-chair for the United Way of North Central Florida where he also chairs the Development Committee. Nick is actively involved with the Gainesville Area Chamber of Commerce where he serves as a board member and committee member for the Council for Economic Outreach. He is also a recent graduate of Leadership Gainesville which is a year long leadership program hosted by the Chamber. He is a member of Grace United Methodist Church where he has served as finance chair and as a member of the leadership council. Nick serves as an advisory board member of the University of Florida Bergstrom Center for Real Estate Studies. Nick was recently named chair of the Gainesville committee for the North Florida chapter of Urban Land Institute (ULI). He is a licensed real estate broker in the State of Florida and is a long time member of the International Council of Shopping Centers.

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