The Germantown Industrial Development Board awarded Memphis, Tenn.-based Campbell Clinic an eight-year retention payment-in-lieu-of-taxes for its expansion plan, according to Memphis Daily News.
Here are five insights:
1. Campbell Clinic is in midst of developing a new $30 million, 120,000-square-foot facility in Germantown, Tenn. The new facility will retain 280 jobs and create an additional 185 new jobs.
2. The new four-story clinic will be adjacent to its current Germantown-based center. Patients will be offered outpatient orthopedic services, physical therapy and imaging suites.
3. Campbell Clinic’s new facility will be equipped with an ambulatory surgery center with eight operating rooms.
4. Campbell Clinic announced its plans to develop a new clinic in November 2017. Additionally, over the next three years, the orthopedic hospital plans to upgrade its current Germantown facility.
5. This is the second retention PILOT Germantown has offered. Campbell Clinic originally sought an 11-year tax abatement due to the project's proposed retention and expansion elements.