Tennessee's Hospital Corporation of America's (HCA) would receive $66 million in incentives to assist in the development of what is currently considered an eyesore in central Nashville, reported The Tennessean.
The incentives, which include tax abatements and other sweeteners, would prompt HCA to move its headquarters to the planned high-rise development in the area, known as West End Summit. In exchange, HCA would bring more than 1,750 new jobs into the development. Currently, the site only has a large hole, the result of a prior development effort that was abandoned, according to the article.
"To have the number of jobs anticipated that the deal is going to bring to Nashville is a no-brainer," Nashville City Councilman Lonnell Matthews Jr. told the newspaper. "When you think about the amount of incentives, there are also some pretty stiff penalties for not meeting certain benchmarks on the positions and bringing the jobs."
Healthcare-centered redevelopments that offer tax incentives are being considered in cities throughout the country, such as in Baltimore and Washington, D.C.
The former proposal would be primarily to end the imbalance of healthcare services in poorer parts of Baltimore, according to The Baltimore Sun. Meanwhile, the proposed redevelopment of St. Elizabeth's Hospital in Washington would bring a mix of healthcare and technology jobs to the city, reported the City Paper.
And in New Hampshire, state policymakers are pushing for tax breaks and incentives to draw specialty hospitals along its southern border to attract patients from Massachusetts, FierceHealthFinance previously reported.