ALCOA, Tenn. (AP) -- Medical sciences company ProNova will locate a research laboratory in Alcoa, Tenn.
The project is expected to create 525 new jobs.
Company officials joined Gov. Bill Haslam and Economic and Community Development Commissioner Bill Hagerty to make the announcement Thursday.
The investment will be nearly $50 million and will include a headquarters facility and commercialization unit.
ProNova, in coordination with Provision Health Alliance, is developing next-generation proton therapy technology to treat cancer.
Proton therapy causes significantly less tissue damage, fewer side effects and a decrease in secondary cancers from radiation exposure.
The first of the new systems are scheduled to ship in 2015.
ProNova becomes the anchor tenant at the Pellissippi Place technology research and development park.