Panel approves TIF for company's 650-job expansion downtown
(Crain's) — A city panel on Tuesday approved a $6-million subsidy to help fund an expansion by Accretive Health Inc. that will include the hiring of 650 people downtown.
Accretive will employ the workers at an office building at 231 S. LaSalle St., where the Chicago-based company plans to open a processing facility next year. The Chicago Community Development Commission voted Tuesday to authorize $6 million in tax-increment financing to pay for job training and the build-out costs of the new facility.
Accretive, a Chicago-based company that manages revenue cycles for hospitals and physician networks, will hire the 650 people over 10 years, according to a news release from World Business Chicago, a public-private economic development group. Founded in 2003, Accretive company employs 175 people at its headquarters at 401 N. Michigan Ave.
“Although they had other options, we are thrilled this unique company has chosen Chicago to grow its business,” Rita Athas, president of World Business Chicago, said in the release. “We look forward to working together to help Accretive continue its growth, and to continue to build on Chicago's position as a world leader for health care IT talent.”
The state is also providing Accretive with more than $1.4 million in tax credits and job training funds, according to a news release from Gov. Pat Quinn's office.
