Company: Exact Sciences
Products: Exact Sciences is best known for its noninvasive colorectal cancer screening test, Cologuard®. Approved by the FDA in 2014, the stool DNA test has been used more than 7 million times. Its success enabled Exact Sciences to broaden its aspirations to providing tests and services for people throughout the entire cancer continuum—before, during and after diagnosis.
Locations: Exact Sciences is headquartered and has a growing footprint in Madison. It has other sites in Baltimore; Boston; Phoenix; Redwood City, California; Salt Lake City and San Diego.
Employees: About 6,500, half of them in Madison.
Wisconsin expansion: This growing global cancer screening and diagnostics company is embarking on a $350 million expansion adjacent to its Madison corporate headquarters. Exact Sciences had other site options but targeted the UW Research Park to build a research and development center of excellence, laboratory space and a warehouse that will create 1,300 new Wisconsin jobs.
“Continued investments in our Wisconsin-based people and facilities will accelerate the development of new cancer tests and ensure we continue providing world-class services and critical answers to patients,” said Kevin Conroy, chairman and CEO at Exact Sciences.
Beginning in 2017, Exact Sciences made several strategic acquisitions to bolster the company’s infrastructure and capabilities. These brought new talent, tests and technologies into the company, while expanding Exact Sciences in Wisconsin and beyond.
Wisconsin business environment benefits: WEDC is supporting Exact Sciences’ Wisconsin-based projects with an additional $18.5 million in performance-based Enterprise Zone Tax Credits, which will be awarded if the company meets new capital investment and job creation goals by 2025. WEDC has been a strategic partner in accelerating to company’s growth since 2014.
“Exact Sciences has already demonstrated an almost unlimited potential to grow,” said Missy Hughes, WEDC’s secretary and CEO. “The fact that they’re choosing to grow in Wisconsin is testament to the strength of our state’s economy and our strong support for businesses of every size, shape and sector.”