Wisconsin Clinical Research Company Receives $850,000 In Tax Incentives To Assist With Expansion
04/04/2012
The project is expected to create up to 183 jobs, Wisconsin Governor Scott Walker said. The tax credits will be distributed annually in direct relation to the number of new, full-time positions created and filled over a two-year period. The employees who will be hired as a result of the tax credits will vary from skilled professionals in the medical industry to sales staff.
Spaulding Clinical Research is making a significant investment into development of its specialized equipment that will establish the firm as a state-of-the art Cardiac Core Lab. The firm's founder, Randy Spaulding, created the Spaulding iQ Electrocardiograph, and is expanding its availability into various medical market.
Spaulding's iQTM Electrocardiograph, is a hand-held, mobile device designed for large global pharmaceutical clinical studies where cardiac safety assessments are required. This technology weighs only 3 ounces, records up to 5 minutes of ECG data compared to just 10 seconds from competitive products. It also uses voice biometrics to identify the patient. "We are blessed to have a creative, dedicated and expert workforce at Spaulding Clinical and look forward to executing our growth plans which will provide more opportunities for quality jobs in Wisconsin," states Randy Spaulding.
"This investment by Spaulding reinforces Wisconsin as one of the leading states in the country in medical innovation," Governor Walker said. "I am pleased to announce this support for Spaulding for the creation of quality jobs for Wisconsin workers."
Spaulding Clinical received assistance from Economic Development Washington County in applying for WEDC tax credits. "We are a great example of the important role economic development plays to support small business growth and job creation. Our ability to move forward with our plans and deliver in a narrow market window is critical for us," Spaulding explained. "The support from EDWC in coordination with WEDC allowed me to keep my focus on the business, which is so important to achieving our goals."
Christian Tscheschlok, Executive Director of EDWC, said support of Spaulding Clinical's project has been a priority because it represents such a strong fit with EDWC's focused strategy to fuel quality jobs and wealth. "Medical-technology is not just a buzz word for Washington County. It represents an emerging industry with globally recognized companies growing right here, which is why EDWC not only collaborated with Spaulding and the State to secure State tax credits, but is also partnering with the city of West Bend to develop new financial tools to further accelerate Spaulding's growth and success."
Project Announcements
Zekelman Industries Expands Blytheville, Arkansas, Operations
04/19/2024
Fibrebond Corporation Expands Webster Parish, Louisiana, Operations
04/19/2024
Master Steel Expands Hardeeville, South Carolina, Operations
04/19/2024
L3Harris Technologies Expands Orange County, Virginia, Operations
04/18/2024
Republic Airways Holdings Plans Tuskegee, Alabama, Training Operations
04/18/2024
South Africa-Based Radel Plans Winston-Salem, North Carolina, Operations
04/18/2024
Most Read
-
2023's Leading Metro Locations: Hotspots of Economic Growth
Q4 2023
-
2023 Top States for Doing Business Meet the Needs of Site Selectors
Q3 2023
-
38th Annual Corporate Survey: Are Unrealized Predictions of an Economic Slump Leading Small to Mid-Size Companies to Put Off Expansion Plans?
Q1 2024
-
Manufacturing Momentum Is Building
Q1 2024
-
Making Hybrid More Human in 2024
Q1 2024
-
20th Annual Consultants Survey: Clients Prioritize Access to Skilled Labor, Responsive State & Local Government
Q1 2024
-
Public-Private Partnerships Incentivize Industrial Development
Q1 2024