Exact Sciences to expand in Madison, create 1,300 jobs
Exact Sciences Corp. will invest $350 million in new facilities at its Madison campus, a move that will create 1,300 new jobs, according to the Wisconsin Economic Development Corp. WEDC will support the projects with an additional $18.5 million in performance-based Enterprise Zone tax credits, which will be awarded if the company meets the new capital investment and job creation goals by 2025.
Exact Sciences, a global cancer screening and diagnostics company, plans to add to its west side Madison campus to support business growth and new products with the following:
- A Research and Development Center of Excellence that includes enhancements to the company’s flagship product, Cologuard, a noninvasive colorectal cancer screening test, as well as work on multicancer early detection tests;
- Additional lab space with new technology and automation to increase overall testing capacity and support Cologuard product development; and
- Additional warehouse space to supply the production lab and R&D Center of Excellence (including ambient storage racking, cold storage, and hazardous material storage).
The WEDC board of directors recently authorized increasing the company’s Enterprise Zone tax credits from $9 million to $27.5 million if the company creates at least 1,300 new jobs and invests at least $350 million in capital expenditures by 2025. The previous Enterprise Zone contract required Exact Sciences to create 758 jobs and invest at least $26.2 million to qualify for $9 million in tax credits, and the company has qualified for all the credits by creating more than 2,700 jobs.