Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Economic Development topic
No spam. Unsubscribe anytime.
Arrowhead says Verona R&D campus could double Wisconsin headcount; council broadly supportive of initial review
Summary
Arrowhead Pharmaceuticals told the council it is evaluating a new R&D campus in the Verona Technology Park that could at least double its Wisconsin headcount from about 200 employees; Alder feedback was generally favorable and staff will return with more details on potential tax-increment financing (TIF) assistance.
City staff presented an initial review May 26 on a potential expansion of Arrowhead Pharmaceuticals in the Verona Technology Park and asked the Common Council for feedback on possible tax-increment financing (TIF) assistance.
Dave Bormet, vice president with Arrowhead at the Verona site, said the company is evaluating building a new R&D facility adjacent to its existing building as part of a campus approach. "We would expect to be able to double that with the growth here in Verona," he said, referring to a current Wisconsin headcount of about 200 employees.
Bormet described the planned space as research-and-development focused, expecting positions to be science and engineering roles (chemists, biologists and other advanced-degree staff). He said most development and lab staff work on-site five days a week, with some remote roles limited to sales personnel.
Council members expressed general support for using TIF for economic development that brings higher-paying jobs, asked for additional detail on job counts and job profiles as the project develops, and emphasized that initial favorable feedback does not obligate the council to approve a final TIF agreement.
Staff and Arrowhead representatives will return with more detailed proposals and potential financing terms if the project advances past this initial review stage.
