Arrowhead Pharmaceuticals broke ground on a major $220 million project in Verona on Monday with financial help from state and local officials.

Gov. Tony Evers announced the Wisconsin Economic Development Corp. is providing $2.5 million in performance-based tax credits to Arrowhead Pharmaceuticals.

The city of Verona is also providing up to $16 million in tax incremental financing to help support the project. The endeavor plans to create more than 230 “high-paying jobs.”

“In the last few years, Wisconsin has been recognized as a powerhouse not just for discovering the latest advances in biopharmaceutical research and development but in manufacturing and producing these lifesaving treatments as well,” Evers said.

“That means that companies like Arrowhead can research new therapies for debilitating diseases, bring them to market, and manufacture them all right here in Wisconsin. To me, that’s pretty remarkable and worth investing in. So, I’m proud to celebrate our state’s investment of $2.5 million in Arrowhead Pharmaceuticals’ project to expand its presence here in Wisconsin and create good-paying jobs for Wisconsinites.”

[Adapted from: Arrowhead Pharmaceuticals breaks ground on $220 million Verona campus; company to receive $16 million from city, $2.5 million from state May 9, 2022 Milwaukee Journal Sentinel]