A nuclear energy company is planning a major investment in Indiana.
First American Nuclear — also known as FANCO — says it will invest more than four billion dollars to establish its headquarters in Indianapolis and develop a nuclear power plant and energy park somewhere in the state.
In a story from Inside Indiana Business, Governor Mike Braun says the project will bring about 5,000 high-paying jobs and help make Indiana a leader in clean nuclear power. The state currently has no operating nuclear plants.
FANCO says its energy park will be the first in the nation to reprocess and reuse spent nuclear fuel — reducing long-term waste by up to 97 percent.
Hiring is expected to begin immediately and continue over the next decade.
The project includes development of the company’s EAGL-1 Small Modular Reactor, designed to power roughly 1.5 million homes.
The announcement marks a major step in the state’s push for advanced nuclear energy — according to Inside Indiana Business.
