At their meeting Tuesday night, Sacramento City Council members voted unanimously to approve an incentive to attract major healthcare company Centene.
The company said it's "looking for a western regional corporate office hub that could employ up to 5,000 people," according to city council agenda information.
While Centene is considering other locations in addition to Sacramento - including in Texas, Arizona and Nevada - council members and other proponents expressed hope and excitement upon passing the employment incentive agreement with Centene Corporation.
The proposed location for Centene would be North Natomas.
"The term of the agreement is 15 years from the first year after Centene assigns an eligible full-time employee to work in Sacramento," the council document says.
As part of the agreement, Sacramento will provide an incentive of $9,000 for each new employee, up to 1,500 employees, with an incentive cap of $13.5 million.
"Centene provides access to affordable healthcare plans to more than 12 million members across the country," the council information says, "and it delivers health insurance solutions for the underinsured and uninsured through Medicaid, Medicare, the Health Insurance Marketplace, and other health solutions through its specialty services companies."
Centene is currently 66th on Fortune 500 rankings and 27th in Fortune 500’s Fastest-Growing Companies ranking, the council document says.
More information on this employment incentive is HERE.