Positron Corp. said Friday it hopes to relocate its corporate headquarters to a city outside Indianapolis, where it would construct a new cyclotron to make cardiac PET radiopharmaceuticals, pending approval of an incentive package.

The nuclear cardiology company has signed a memorandum of understanding with Noblesville, a city of nearly 52,000 about 23 miles north of Indianapolis, but still has to reach a definitive agreement with the city and the state for the proposed economic incentive package. The package needs approval from the Noblesville Common Council, and should be voted on later this month.

The proposed $55 million project includes construction of a 70 MeV cyclotron. Once completed, it would be the highest-energy commercial cyclotron for isotope production in the United States, Positron said. A similarly powered cyclotron, dubbed Arronax, is located near Nantes, France.

The project would create 84 jobs over the next three to five years, the city said.

"We believe Noblesville is the best choice for our expansion plans based on its growing, high quality community, strategic location, and the city's commitment to promoting a thriving health care and technology environment," said Patrick Rooney, Positron's CEO, in a statement.

Noblesville's mayor John Ditslear said the development could create "ripple effects," benefiting local businesses.

Positron, which makes the cardiac PET scanner Attrius, is currently headquartered in Fishers, Ind. It also owns a radiopharmaceutical manufacturing facility in Crown Point, Ind. and has a corporate office in Westmont, Ill.

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