NASHVILLE, Tenn. – Metro Council members voted to approve tax incentives for a large expansion project on Tuesday.
In September, Hospital Corporation of America announced plans to move two of its companies into twin towers built on a 500,000 square foot space along West End Avenue. The move could bring up to 2,000 jobs that pay an average of $85,000 a year.
To make that happen, the city has approved giving the company a $3 million property tax break for the next 15 years. The plan also gives HCA $500 for each new employee it brings to the city. The state of Tennessee is also offering additional money.
Metro Council voted to approve the property tax break 34 to one.
Approximately 1,000 HCA employees will begin work once the buildings are finished in 2015, and that number that could double by 2017.
The proposed development would consist of two towers of approximately 20 stories each. One would house Parallon Business Solutions and the other for Sarah Cannon Research Institute.
The two new structures, with a total of 900,000 square feet, will be located on the property near the split between Broadway and West End, on the long-vacant property called the West End Summit.
The development will be one of the largest commercial office developments in city history. Officials said it is believed to be the largest number of new permanent jobs created by one economic development project in Davidson County since the relocation of Dell to Nashville in to 1990s.
HCA is one of the nation's leading providers of healthcare services, with 162 hospitals and 112 surgery centers in 20 states and England.