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Advanced Cell seeks U.S. headquarters in Bedford; select board places TIF warrant article
Summary
Advanced Cell, an Australian radiopharmaceutical company, told the select board it seeks a roughly 100,000-square-foot U.S. GMP manufacturing headquarters in Bedford that would create 100+ jobs and require about $50 million of private investment; the board voted 5-0 to place a TIF warrant article on the Nov. 3 special town meeting.
Advanced Cell representatives told the Bedford Select Board on Oct. 14 that the Australian radiopharmaceutical company is pursuing a U.S. headquarters and GMP manufacturing facility on Middlesex Turnpike and asked the town to place a tax-increment financing (TIF) warrant article on the Nov. 3 special town meeting.
Dale, speaking for Advanced Cell, said the company needs roughly 100,000 square feet of bespoke manufacturing space, expects to hire “100 plus” skilled employees and plans about $50 million in capital investment to build U.S. manufacturing capability for short–half‑life radiopharmaceuticals. “The substance of the project we’re looking for today is to build a GMP manufacturing capability for manufacturing medicinal products in the US,” Dale said.
Board members and company representatives discussed timing and contingencies. Town staff told the board the company has not yet signed a lease and that placing a TIF on the warrant does not obligate the town if Advanced Cell later withdraws. As the town manager explained, placing a warrant article would only allow town meeting to authorize negotiation; if the company does not proceed the town would not incur the TIF-related investment.
The select board voted to place a warrant article authorizing a TIF negotiation for Advanced Cell “as presented.” The motion passed on a voice vote, 5–0. The company asked the town to move quickly to align with its preferred timeline to sign a lease by year’s end and begin construction the following year; company representatives said they expect an 18‑month build timetable from groundbreaking to operation.
Next steps: placing the article sends the TIF request to the Nov. 3 special town meeting for voter consideration; any TIF agreement would still require additional negotiations, formal approvals and (if adopted) detailed terms to be posted and reviewed by the town.
