Attraction

Abingdon Health Expands to Madison, WI: New Office and Lab Set to Enhance Bioscience Innovation

Jorden Ludeking · Oct 24, 2024 ·

Abingdon Health plc (“Abingdon”), a UK-based leading developer and manufacturer of medical devices worldwide, just announced its expansion to Madison, WI. The company has signed a lease at University Research Park and expects to become fully operational in early 2025.

“We are excited to be opening our Abingdon Health USA commercial office and laboratory in Madison. We look forward to being closer to our existing and future customers and contributing to this rapidly growing bio and animal health community with our unique end-to-end value proposition for point-of-care diagnostics.” – Chris Yates, CEO of Abingdon Health

Madison Region Economic Partnership (MadREP) played a key role in facilitating Abingdon Health USA’s decision to set up operations in Madison. MadREP’s economic development plan, Elevate Strategy, outlines the goal of increasing the bioscience sector in the broader Madison region.

“Attracting Abingdon Health USA to the Madison Region underscores our organization’s commitment to enhancing the bioscience sector and positioning Madison as a global leader in life sciences. This collaboration aligns with our ‘Elevate Strategy,’ as it leverages Madison’s rich bioscience infrastructure and fosters innovation by bringing world-class companies to the region. Abingdon Health’s decision to expand here highlights the unique advantages Madison offers to bioscience companies, including a highly skilled workforce, cutting-edge research, and a rapidly growing ecosystem.” – Everett Butzine, VP of Economic Development at MadREP

“All along the way, we have appreciated and benefited from the support of MadREP. Abingdon Health USA is eager to continue our partnership with MadREP and leverage its extensive regional network to bring complementary expertise and economic development to the region.” – Chris Yates, CEO of Abington Health

Findorff has also worked closely with MadREP and Abingdon Health USA, and played a significant role in the company’s decision to select Madison.

“I’ve been in the region so long, and after going through this process with Abingdon I’m reassured how special Wisconsin is for development. We look forward to working with MadREP to bring the next company to Wisconsin.” – Chad Eschler, VP of Business Development at Findorff

MadREP is dedicated to maximizing the potential of Madison’s bioscience sector, highlighting the region’s unique advantages compared to other areas. With over 330 establishments and a rapidly growing industry, Madison has emerged as a significant player in the bioscience field.

Employers and employees are increasingly drawn to the Madison area, which boasts a job market 64% above the national average. Forecasts indicate a remarkable 19% growth in the bioscience industry over the next five years. Companies like Abington Health plc are just one example of the vibrant growth and opportunity in this sector.

Madison, WI, is nationally recognized as a hub for bioscience companies, fostering a culture of education and innovation. In 2020 alone, over 1,900 industry-recognized degrees and certifications were awarded, supported by esteemed research institutions such as the University of Wisconsin-Madison. This influx of talent from around the globe contributes to the ongoing success of Madison’s bioscience community.

To find out more about Abingdon Health, check out their website: https://www.abingdonhealth.com/

Press Release: https://www.londonstockexchange.com/news-article/ABDX/opening-of-us-commercial-office-and-laboratory/16714258

To find out more on University Research Park, check out their website: https://universityresearchpark.org/

Thermo Fisher Scientific’s $58 Million Expansion in Middleton

Jessica Reilly · Jun 21, 2024 ·

*Image Courtesy of Wisconsin Economic Development Corporation*

A Milestone for Middleton and Beyond

In a significant move to further enhance the biohealth sector, Thermo Fisher Scientific is set to expand its operations in Middleton, Wisconsin, with a $58 million investment. This expansion is not just a win for the company but a significant boost for the local economy, promising hundreds of new jobs and a stronger community.

Background on Thermo Fisher Scientific

Thermo Fisher Scientific, headquartered in Waltham, Massachusetts, is a global leader in serving science. Formed through the 2006 merger of Thermo Electron and Fisher Scientific, the company has grown exponentially through strategic acquisitions, including Life Technologies Corp., Affymetrix, FEI Co., and PPD Inc. With annual revenues exceeding $44 billion, Thermo Fisher offers a vast array of analytical services and laboratory solutions for drug development and biopharmaceuticals.

Expansion Details

Governor Tony Evers, alongside company officials and local leaders, recently celebrated the groundbreaking of this new venture. The expansion includes a 72,500-square-foot building at the company’s Good Manufacturing Practices (GMP) lab. This facility will significantly enhance the site’s chemistry, manufacturing, and control (CMC) analytical capabilities. The Wisconsin Economic Development Corporation (WEDC) is supporting this project by authorizing up to $2.15 million in performance-based tax credits, contingent on job creation and capital investment through September 2026.

Economic Impact

The economic implications of this expansion are profound. The new facility is expected to create approximately 350 new jobs, adding to the nearly 2,300 employees already working at Thermo Fisher’s research campus in the region. This influx of highly skilled professionals will contribute to the local economy, providing new opportunities and fostering community growth.

Governor Evers emphasized the importance of this project, stating, “This new state-of-the-art facility will not only further advance our state’s biosafety testing capabilities and create hundreds of jobs, but it will also help protect consumers and improve patient health outcomes across the state.”

Community and Industry Support

Local and state representatives have shown overwhelming support for the expansion. U.S. Rep. Mark Pocan highlighted how this investment will help the local economy flourish, while State Sen. Dianne Hesselbein praised Thermo Fisher for recognizing the great workforce and community in Middleton.

Missy Hughes, WEDC Secretary and CEO, remarked, “Thermo Fisher plays a key role in our state’s biohealth and biotechnology industry by providing many of the clinical services companies need to bring safe and effective treatments to patients. Their continued growth is a huge win for innovation in our state.”

Advancing Health and Science

Leon Wyszkowski, President of Analytical Services, Clinical Research at Thermo Fisher Scientific, expressed excitement about the expansion, “We are thrilled to expand our overall capacity and capabilities in laboratory services to help our customers deliver therapies that meet the highest quality and safety standards for patients.”

Looking Ahead

Madison Region Economic Partnership (MadREP) has also played a pivotal role in facilitating this project. Jason M. Fields, President & CEO of MadREP, shared his insights on the significance of this expansion, “The collaboration between Thermo Fisher Scientific and MadREP underscores our commitment to fostering innovation and economic growth in southcentral Wisconsin. We are proud to support such advancements in the bioscience sector and are hopeful for the continued progress and future developments that will stem from this partnership.”

As the region continues to grow as a hub for biohealth and biotechnology, such collaborations are essential to driving forward scientific research and medical advancements, ultimately improving patient care and safety across the globe.

Thermo Fisher Scientific’s $58 million expansion in Middleton is a testament to the company’s commitment to enhancing health and safety through scientific innovation. This project not only strengthens Wisconsin’s position as a leader in the biohealth sector but also provides significant economic benefits to the local community.

Stay tuned for more updates as this exciting project progresses. If you’re a business professional looking to leverage the latest advancements in biohealth, consider exploring the opportunities this expansion presents. Together, we can build a healthier, stronger future for all.

Kikkoman Groundbreaking in Wisconsin

Jessica Reilly · Jun 14, 2024 ·

In a spectacular event showcasing collaboration and growth, Kikkoman Foods Inc. recently broke ground on a new state-of-the-art manufacturing facility in Jefferson, Wisconsin. This significant event marks another milestone in the longstanding relationship between Kikkoman and the state of Wisconsin.

Why is This Groundbreaking Important?

This groundbreaking ceremony was not just another corporate event; it was a testament to decades of mutual trust and cooperation. The new facility represents a major investment of more than $800 million, including a $560 million investment in Jefferson and an additional $250 million expansion at Kikkoman’s existing facility in Walworth. Governor Tony Evers, along with Kikkoman Chairman and Honorary CEO Yuzaburo Mogi, Wisconsin Economic Development Corporation (WEDC) Secretary and CEO Missy Hughes, and other local leaders, gathered to celebrate this remarkable step forward.

“Today’s events are a watershed moment in Wisconsin’s relationship with a global brand like Kikkoman,” said Gov. Evers. “The strong connection between Wisconsin and Japanese businesses like Kikkoman has been instrumental in driving Wisconsin’s economic growth, bolstering innovation, and creating valuable employment opportunities.”

The Impact on Southcentral Wisconsin

The new facility in Jefferson is set to create at least 83 high-paying jobs over the next 12 years. This is a significant boost for local employment and economic development. The facility will also serve as a model of modern, highly automated food manufacturing, contributing to Wisconsin’s burgeoning reputation as a hub for food and beverage innovation.

“The site selection process is incredibly competitive and Kikkoman’s choice to establish roots in Jefferson County underscores the county’s reputation as a prime destination for food and beverage manufacturers,” said Deborah Reinbold, President of Thrive Economic Development. “Transformative projects of this magnitude require the dedication and cooperation of many, and this success is a testament to our collective efforts.”

MadREP VP of Economic Development Everett Butzine amplified her sentiments, stating, “Supporting our county partners at Thrive through the site selection process has been profoundly gratifying. At MadREP, we are fortunate to collaborate with such outstanding county partners.”

Jefferson Mayor Dale Oppermann emphasized the importance of Kikkoman’s investment by stating, “Kikkoman’s decision to invest in Jefferson underscores the strength and appeal of our local food and beverage niche. We appreciate the trust Kikkoman has placed in our community and look forward to a long, prosperous partnership.”

Role of Regional Economic Development

The Wisconsin Economic Development Corporation (WEDC) has been a pivotal player in facilitating this investment. WEDC will award up to $15.5 million in performance-based tax credits to support Kikkoman’s expansion efforts. “WEDC is pleased to support Kikkoman’s growth in our state and the bright future it promises for our communities,” said Missy Hughes, Secretary and CEO of WEDC.

The collaborative efforts between state and local governments, economic development agencies, and private enterprises underscore the importance of regional economic development in fostering large-scale investments. These partnerships are crucial for attracting and retaining global businesses, which in turn drive job creation and economic growth.

Economic Partnership with Japan

Japan has long been a significant partner for Wisconsin, both economically and culturally. There are currently 81 Japanese companies with over 224 operations throughout the state, creating approximately 9,000 jobs. Since 2013, Japan has invested over $2.6 billion in Wisconsin, making it the second-largest investor in the state after Canada.

Governor Evers’ recent participation in the White House State Dinner in honor of Prime Minister Kishida Fumio further highlights the deep-rooted economic ties and the mutual benefits derived from such partnerships. This solidifies Wisconsin’s role in fostering international economic relationships and underscores the state’s commitment to maintaining and growing these valuable connections.

Conclusion

The Kikkoman groundbreaking ceremony in Jefferson is more than just the start of constructing a new facility; it marks a new chapter in Wisconsin’s economic story. With substantial investments, job creation, and the continuous support from regional economic development entities, Kikkoman’s expansion promises a brighter future for Southcentral Wisconsin.

If you’re keen on learning more about how investments like these can impact local economies or are interested in exploring business opportunities in Wisconsin, our team of experts is here to help. Contact us today to discover how we can assist you in navigating this dynamic economic landscape.