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File #: 15-13799    Version: 1 Name:
Type: Public Hearing Item Status: Agenda Ready
File created: 7/10/2020 In control: City Council Business Meeting
On agenda: 7/27/2020 Final action:
Title: Public Hearing for Centene Corporation Business Investment Grant
Title
Public Hearing for Centene Corporation Business Investment Grant

Action
Action:
Conduct a public hearing regarding approval of a Business Investment Grant to Centene Corporation.

Body
Staff Resource(s):
Tracy Dodson, Economic Development
Frances West, Economic Development

Explanation
* On July 1, 2020, Centene Corporation announced its selection of Charlotte for its east coast headquarters and technology center, resulting in a capital investment of $1,034,900,790 and the creation of 3,237 jobs to be hired over 10 years with an average wage of $100,089.
* This action is requesting a public hearing be conducted regarding City Council approval of a not to exceed Business Investment Grant (BIG) of $31,588,352 over 12 years. Mecklenburg County's not to exceed amount is $26,023,000 over 10 years, bringing the combined not to exceed city and county grant estimated total to be $57,611,352.
* On June 22, 2020, City Council, in Closed Session, indicated its intent to approve a BIG to Centene Corporation.
* On June 23, 2020, the Mecklenburg County Board of Commissioners, in Closed Session, indicated its intent to approve a BIG to Centene Corporation.
* In addition to the BIG, the State of North Carolina also approved a Job Development Investment Grant in the amount of $388,000,000 and $4,531,800 in community college training funds.
* In compliance with NC G.S. ? 166A-19.24 Remote meetings during certain declarations of emergency, written comments on the public hearing topic will be accepted by the Clerk's Office through July 28, 2020, at 11:59 p.m. Any additional comments received will be provided to Council.
* On August 10, 2020, City Council will be asked to approve the BIG to Centene Corporation.

Background
* Centene Corporation is a leading multi-national healthcare enterprise that is committed to helping people live healthier lives through managing healthcare plans for over 23 million members.
* Centene Corporation is headquartered in St. Louis and is...

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