A multiple-energy, high fluence, MeV Fe ion implantation process was applied at 83 K to heavily damage a low band gap (0.79 eV) epitaxial InGaAsP layer. Optimal rapid thermal annealing conditions were found and produced a fast photoconductor with high resistivity (up to 2500 Ω cm) and Hall mobility around 400 cm 2 V −1 s −1 . Short photocarrier trapping times (0.3 ps -3 ps) were observed via transient differential reflectivity measurements. Furthermore, photoconductive terahertz devices with coplanar electrodes were fabricated and validated. Under pulsed excitation with a 1550 nm femtosecond fiber laser source, antennas based on Fe-implanted InGaAsP are able to emit broadband radiation exceeding 2 THz. Given such specifications, this new material qualifies as a worthy candidate for an integration into optical terahertz spectrometer designs.