January 13, 2022 10:00 a.m.
Posted: Jan 13, 2022 10:00 am
Updated: January 13, 2022 10:02 am
WISC-TV / Channel3000
MADISON, Wisconsin – Exact Sciences prepares to invest an additional $ 350 million in its Madison campus and potentially create more than 1,300 jobs, the company and leaders announced Thursday morning.
The expansion project could be supported by the state with an additional $ 18.5 million in corporate zone tax credits from the Wisconsin Economic Development Corporation as long as Exact Sciences meets its capital investment and job creation goals by 2025.
WEDC had previously granted the company $ 9 million in Enterprise Zone tax credits, but recently approved an increase in those credits to $ 27.5 million if the company creates at least 1,300 new jobs and at least 350 over the next three years Million US dollars invested in capital expenditures.
“Exact Sciences is an example of a company with deep roots in Wisconsin who is making this investment committed to its future in our state,” said WEDC Secretary and CEO Missy Hughes. “As the company expanded to include more offices around the world, Exact Sciences could have chosen to expand into other states, but chose Wisconsin because of our great, well-trained workforce, excellent community infrastructure, and support for its research – and health missions. “
The company is best known for its colon cancer screening kit, Cologuard. Company officials say the expansion will help continue its efforts to eradicate cancer around the world while preserving its Wisconsin roots.
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“Continued investment in our people and facilities in Wisconsin will accelerate the development of new cancer tests and ensure we continue to provide our patients with world-class service and critical answers,” said Kevin Conroy, chairman and CEO of Exact Sciences.
The company’s expansion plans include investments in a brand new research and development center for excellence, laboratory space and additional storage space.
“Exact Sciences has already demonstrated near-limitless growth potential,” Hughes said in a statement. “The fact that you choose to grow in Wisconsin is testament to the strength of our state’s economy and our strong support for businesses of all sizes, shapes, and industries.”
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