The Germantown (Tenn.) Industrial Development Board awarded Germantown, Tenn.-based Campbell Clinic an eight-year retention pilot for its new expansion, Memphis Daily News reports.
Here's what you should know:
1. Campbell Clinic is planning a $30 million, 120,000-square-foot facility with an outpatient orthopedic space, physical therapy and imaging suites, and an ASC with eight operating rooms, in Germantown.
2. The clinic requested an 11-year pilot from the board, but was granted an 8-year pilot with the option for Campbell Clinic to return and seek additional incentives as expansion is underway.
3. The pilot, which stands for payment in lieu of taxes, will allow Campbell Clinic to make a set payment to the Germantown government for eight years. After the pilot expires, the clinic will be subject to the regular taxation.
4. Officials expect the clinic will create 185 new jobs over the next three years, while retaining all current positions.