Electronics giant Philips is planning to bring 800 jobs to the Nashville area focused on health care technology. The company makes medical imaging equipment found in most hospitals like x-rays and MRI machines.
Philips executives say hiring will begin in the next couple of months and the 800 jobs will be filled in two years. The state is offering money for the expansion, says Tennessee Economic Development Commissioner Bob Rolfe.
"We are in the process of completing the negotiations for incentives," he says. "Yes, there are incentives and as soon as we have signed the agreement, that will be available publicly."
State officials traveled to the company’s headquarters in Amsterdam in June as part of the recruitment process.
Philips is still looking for its exact location, which may set up a bidding war. Mayors and economic development teams from both Nashville and Williamson County attended Thursday's announcement.
"Currently, we're scouting sites across the Nashville area," says Craig Gruchacz, global business services leader for North America. "That will be determined over the next few months."
This represents a consolidation of key U.S. functions to one site. Those include commercial operations, finance, IT and marketing.
Philips already has more than 100 employees based in the Nashville area. Company officials say they were attracted to Nashville in part to be near other national healthcare companies, like the hospital chains based in the area.