Arrowhead Pharmaceuticals breaks ground in Verona

VERONA, Wis. — California-based Arrowhead Pharmaceuticals broke ground on a new facility in Verona on Monday.

The Wisconsin Economic Development Corporation is giving Arrowhead $2.5 million in tax credits to complete the project. That money will become available if the company meets job creation and investment goals by 2026. The City of Verona is also contributing $16 million in tax incremental financing for the campus.

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“We need to keep innovating. We need to keep looking for the next breakthrough,” WEDC CEO Missy Hughes said. “Arrowhead is going to do that right here in Verona.”

The campus will feature two buildings: a 125,000-square-foot laboratory and office space and a 160,000-square-foot drug manufacturing facility. Arrowhead already has a 111,000-square-foot research and development building on Madison’s west side.