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Insurance industry

Guilford County Commissioners Offer $270,000 to UnitedHealth Group for Major Expansion

Strategic Insights

— 1 min read

The Guilford County commissioners voted 6-4 to offer $270,000 to UnitedHealth Group if the company chooses Greensboro for a major expansion. The incentive package is contingent upon UnitedHealth Group bringing as many as 860 jobs and $21.7 million to the tax base. The company would receive the reimbursement as part of a deal to consolidate services in Greensboro, with the county starting payment only after the company begins creating jobs and paying taxes. This decision comes one week after the Greensboro City Council approved up to $340,762 in incentives for UnitedHealth.

Key Takeaways:

  • The Guilford County commissioners are offering $270,000 to UnitedHealth Group as an incentive for expanding in Greensboro, contingent upon the company bringing in 860 jobs and $21.7 million to the tax base.
  • The company would receive the reimbursement as part of a deal to consolidate services in Greensboro, with the county starting payment only after the company begins creating jobs and paying taxes.
  • This is the latest in a series of incentives approved by the commissioners, with the money paid to the company as reimbursement for work on its new site, not as an immediate cash payment.
  • UnitedHealth Group is the parent company of UnitedHealthcare of North Carolina and Uniprise, which employ 640 people in Greensboro.
  • The company's expansion would be a significant boost for the local economy, with the potential for $21.7 million in tax revenue.

Statistics:

  • $270,000: The amount offered to UnitedHealth Group as an incentive for expanding in Greensboro.
  • 860: The number of jobs that UnitedHealth Group could bring to the area as part of its expansion.
  • $21.7 million: The estimated tax revenue that UnitedHealth Group's expansion could generate for the county.
  • $340,762: The amount of incentives approved by the Greensboro City Council for UnitedHealth Group.

Sources:

  • Guilford County commissioners meeting transcript
  • Greensboro City Council meeting transcript
  • UnitedHealth Group press release

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