Metro Government is offering one of its largest private employers a 7-year tax break for expanding in Davidson County. Last week HCA announced it would build a data center in Antioch. Legislation filed with the Metro Council would discount the company’s property taxes at the site by 60 percent.
There are milestones HCA would have to hit. Each year the company must make progress toward investing the total $200 million in the facility as well as reach benchmarks toward ultimately creating 155 new positions.
Failure to hit the numbers won’t require repayment, but it would end the tax incentive, which is worth a total of $11 million.
The 7-year deal is quite a bit different than a tax abatement approved for LifePoint Hospitals last month. That company has a 15-year agreement that’s worth a total of $6 million. It starts out as a 100 percent tax break and goes down every few years.
HCA has also been in negotiations with state officials for a cash grant to help build the data center. An amount has not been disclosed, but the state has agreed in principal to the deal.
The city tax breaks for HCA will have to pass three votes of the Metro Council. State grants are approved by the State Funding Board. The hospital chain plans to have the first phase of construction completed next year.