Grand Rapids-based BAMF Health has secured tax incentives to further its plans to create 90 jobs and invest $93.8 million in a new center in downtown Detroit.

As part of the project, BAMF will serve as the anchor tenant at Bedrock’s planned Gratiot Life Science Innovation Building on Gratiot Avenue at I-375, occupying the 45,000-square-foot first floor of the building. 

Tuesday, the Michigan Strategic Fund approved a $1.5 million performance-based grant toward the project as well as a 15-year state essential services assessment exemption, forgoing some property taxes on its project to the tune of $982,000.

“BAMF Health’s investment in Detroit will bring good-paying jobs and millions in economic growth to Wayne County,” Governor Gretchen Whitmer said in a press release. “BAMF’s new facility will help them better serve Michigan patients. It will reinforce Michigan’s reputation as a leader in health care and the best place to pioneer cutting-edge technology that not only grow our economy but makes peoples’ lives better. Let’s keep working together to build a healthier, more prosperous future for all Michiganders.” 

BAMF has received roughly $25 million in state funding for expansion in the state.

The project is also expected to receive a real estate tax abatement from the city of Detroit. 

The organization specializes in theranostics — a new wave of radiopharmaceuticals that are drawing the eyes of scientists and investors around the country. Led by former Van Andel Institute scientist Dr. Anthony Chang, now founder and CEO, BAMF is injecting Stage 4 prostate cancer patients with radioactive drugs that are designed to detect and destroy cancer cells with minimal side effects. The company already has a partnership with General Electric and Grand Rapids’ Corewell Health and is seeking a new partner for its Detroit operations.

The Detroit project includes the build out of a molecular imaging clinic, a molecular therapy clinic and a commercial manufacturing radiopharmacy. 

The jobs to be created include business operations specialists, nuclear medicine technologists and electronics engineers with pay ranging from $35 per hour to $55 per hour, according to a MEDC memo in support of incentive package. The center will also employ several physicians and surgeons. 

BAMF Detroit will be the anchor tenant of Bedrock’s new 220,000-square-foot building it plans to build at the site of the former Wayne County Consolidated Jail property, colloquially known as the “fail jail” site, at Gratiot Avenue and I-375. Construction is expected to start this year. Work is currently underway to demolish the former juvenile jail facility at the site.

Other tenants in the new 220,000-square-foot building include Ferris State University out of Big Rapids, Ann Arbor-based MI-HQ, and Wayne State University and TechTown, both out of Detroit.