First American Nuclear plans to build its headquarters, manufacturing facilities and energy park to Indiana, a move that is expected to bring 5,000 jobs, the nuclear power company and state officials announced Tuesday.

The company describes itself as the "developer of a fast-spectrum small modular reactor designed to deliver the most cost-effective utility-scale power in the world," a news release said. The announcement did not include a possible location for the development.

The energy park is intended to be the first in the United States to use a closed-fuel cycle, which means it would reprocess and reuse spent nuclear fuel on-site. That would eliminate about 97% of nuclear waste, the news release said.

The EAGL-1 SMR, First American Nuclear's flagship technology, can create more fuel

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