A California drug company has broken ground on its pharmaceutical manufacturing and research facility outside of Madison where it will invest up to $250 million and create 250 jobs.
Arrowhead Pharmaceuticals Inc. (Nasdaq: ARWR) of Pasadena, California, was awarded $16 million in tax incremental financing support and $2.5 million in refundable tax credit from the Wisconsin Economic Development Corp. for the project. Arrowhead is building an approximately 140,000-square-foot drug manufacturing facility and an approximately 115,000-square-foot laboratory and office facility to support process development and analytical activities.
The company purchased 13 acres in the Verona Technology Park in Verona for the facilities late last year.
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