The Latest: Exact Sciences to return $61,100 in tax credits

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MADISON, Wis. (AP) — The Latest on Wisconsin tax credits to Exact Sciences (all times local):

2:15 p.m.

Madison-based medical diagnostics company Exact Sciences Corporation says it will return $61,000 in tax credits the state awarded it for jobs created outside of the state.

Company spokeswoman Cara Connelly tells The Associated Press on Thursday that as a “good corporate citizen” Exact Sciences will return the money.

Exact Sciences was awarded $1 million in tax credits in 2017. About 6%, or $61,000, was for 261 jobs created outside Wisconsin. It also created 795 jobs in Wisconsin.

The nonpartisan Legislative Audit Bureau highlighted the award in a report last week about awards from the Wisconsin Economic Development Corporation. WEDC CEO Mark Hogan defended the award, saying it is allowed to give credits for jobs created outside the state.

Exact Sciences was not named in the audit, but WEDC revealed the name in response to an AP open records request.

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8:58 a.m.

Madison-based medical diagnostics company Exact Sciences Corporation is the unnamed company highlighted in an audit that revealed it received $61,000 in tax credits for jobs created outside of Wisconsin.

The Wisconsin Economic Development Corporation named the company in response to an open records request from The Associated Press.

WEDC also revealed that the company that received $462,000 in tax credits even though it lost 17 jobs was Walgreens. WEDC spokesman Dave Callender says the agency is determining how much of those will be reclaimed.

Exact Sciences was awarded $1 million in tax credits in 2017. About 6%, or $61,000, was for 261 jobs created outside Wisconsin. It also created 795 jobs in Wisconsin.

WEDC CEO Mark Hogan initially declined to name either company following release of the audit last week.

Associated Press

Associated Press

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