Realta Fusion will receive up to $55 million from the State of Wisconsin and the City of Madison to develop its corporate headquarters and fusion research facility at OM Station, the company announced today.

“We spent the better part of the past two years searching across the country to find the most favorable business environment and the most attractive site to build our R&D facility, and we found it in our own backyard,” Realta CEO Kieran Furlong said in a statement. “The State of Wisconsin and the City of Madison have made it clear they understand the promise of fusion energy and share our vision for the future, and now they’ve thrown their lot in together to make that vision a reality.”

According to a release, Wisconsin’s financial incentive package combines an estimated $37.5 million in state sales and use tax exemptions, up to $15 million in performance-based enterprise zone (EZ) tax credits from the Wisconsin Economic Development Corporation (WEDC) and $2.8 million in tax increment financing (TIF) for job creation at OM Station from the City of Madison.

The company expects to create more than 600 jobs and looks to break ground on “The Realta Forge” before the end of the year.