03 Feb Exact Sciences doubled capital investment, job creation goal in Wisconsin
Cancer diagnostics company Exact Sciences Corp. has more than doubled the capital investment and job creation numbers it proposed under an agreement with the Wisconsin Economic Development Corp., according to documents obtained by the Milwaukee Business Journal per a public records request.
In 2015, Madison-based Exact Sciences was approved by the WEDC to receive up to $9 million in tax credits if it added at least 750 jobs and made a capital investment of $26.2 million by 2020. Under the agreement, Exact Sciences would receive the WEDC tax incentives by investing in capital expenditures in Wisconsin and creating 758 full-time positions – with an average wage of $24.47 per hour – in the state by Dec. 31, 2020.
According to the most recent documents for WEDC tax credit awards dated January 2020, Exact Sciences (Nasdaq: EXAS) made a capital investment of $95.85 million and created 1,672 jobs in Wisconsin since 2015. The company also met its goal of retaining 185 jobs in Wisconsin.