Arizona Biomedical Corridor advances
Phoenix Mayor Greg Stanton and the City Council today approved the Phoenix Industrial Development Authority to issue up to $180 million in revenue bonds to finance Mayo Clinic’s new proton beam radiation therapy center.
The Council also approved a two-year extension of its agreement with ASU and Mayo Clinic to continue collaborative planning efforts to develop the Arizona Biomedical Corridor in northeast Phoenix.
The Mayo Clinic Cancer Center, the corridor’s anchor, will be the only center in the Southwest to provide proton beam radiation, a technology that precisely delivers radiation to a tumor while protecting surrounding healthy tissue and organs. The 165,000-square-foot underground facility will help Mayo medical teams treat about 2,000 patients, including children, each year beginning in spring 2016.
“Mayo Clinic’s newly consolidated cancer center is exciting for our community because it helps to deliver top-notch care to our residents and contributes to the innovation-based economy we need,” said Stanton.
“I am thrilled we are taking the next step in our partnership with ASU and Mayo Clinic on the Biomedical Corridor in District 2,” said Vice Mayor Jim Waring. “This project will be a great economic driver for the city and the state, and only enhance Phoenix’s image as an international destination for medical care.”
“Arizona cancer patients will no longer have to travel far to receive proton beam therapy,” said Wyatt Decker, M.D., chief executive officer of Mayo Clinic in Arizona. “Proton beam therapy, with fewer side effects and greater precision, is particularly beneficial for children and younger patients. We’re pleased to be offering this important treatment soon in the fight against cancer, right here in our community.”
Stanton also announced that the Arizona State Land Department has accepted the application by KUD International, a private developer, to play a key role in developing biomedical and advanced technology research on the site. As a result, the department plans to auction 225 acres of land within the proposed corridor by the end of this year.