Exact Sciences Awarded $9M in Tax Credits

by Taylor Kennedy

Exact Sciences was awarded $9 million in tax credits from the Wisconsin Economic Development Corporation, the company announced today.

“This agreement underscores our commitment to expanding in Wisconsin as we develop new tests that will help eradicate the deadliest forms of cancer,” Exact Sciences Chairman and CEO Kevin Conroy said in a statement. “We moved Exact Sciences to Madison in 2009 because of the state’s strong, dedicated workers and the first-class universities to recruit talent.”

According to a release, the credits can be earned through a combination of hiring more than 750 employees and investing $26 million in capital expenditures through 2020. In terms of projected job creation, it marks the fourth-largest award in WEDC history.

Since moving to Madison, Exact Sciences has grown from two employees to more than 400.

Exact Sciences is the manufacturer of Cologuard, which is the first and only-FDA approved, noninvasive stool DNA screening test for colorectal cancer.