BREAKING: 3,000+ jobs headed to UCity area, report says

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Big announcement expected Wednesday for Fortune 50 healthcare company Centene Corp.; largest incentive package in N.C. history?

A large health insurance company named Centene Corp. is poised to announce a huge investment in Charlotte, with more than 3,000 jobs heading to the University area, according to a report this afternoon from the Charlotte Business Journal.

The article, posted online and available only to Business Journal subscribers, cites multiple unnamed commercial real estate sources who say that the Fortune 50 company plans to add a campus in the University area — which has a lot of such campuses. One source told the publication that the campus could eventually be 1 million square feet.

A source “with direct knowledge of the deal” said the company would employ more than 3,000 people, and that the incentives package totals nearly $400M, the Business Journal reported.

That’s huge. The biggest previous incentive package in North Carolina is thought to be a 2005 offer to lure Dell. It totaled $260M.

The Ledger, also citing unnamed sources, reported this morning that a big announcement seemed to be in the works and that a state panel that votes on incentives is meeting Wednesday. A city source told the Business Journal that an economic development announcement is scheduled for 11:45 a.m. Wednesday.

Centene who? Centene, based in St. Louis, had $75B in revenue last year, placing it at #42 on the Fortune 500 list, between Freddie Mac and UPS. Why have you never heard of it? It appears to be one of those quiet huge companies that just brings in money. Seems like a good fit for Charlotte.

A Reuters description of the company says it “provides a portfolio of services to government-sponsored healthcare programs, focusing on under-insured and uninsured individuals.” It has nearly 57,000 employees, according to regulatory filings.


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Executive editorTony MeciaManaging editorCristina BollingContributing editor: Tim Whitmire; Reporting intern: David Griffith