"Healthcare and information technology are areas where North Carolina excels, because of our strong workforce and the continued pipeline of workers from universities and colleges all over the state," said Governor Cooper. "Companies like Well see our achievements as a strong reason to choose places like Chapel Hill to pursue their plans for success."
Well provides a consumer engagement platform that helps individuals navigate and improve their health. Well's concierge health team and digital experiences provide on-demand support to members for their health needs, while proactively surfacing personalized health insights. Well's new operations center will serve as the primary center for the company's clinical and health experts, and will also house software developers, data analysts, and corporate personnel.
"North Carolina has proven to be a fertile market to attract top talent across our range of requirements, from development to clinical to customer service," said Gary Loveman, Founding Chairman and Chief Executive. "Our leadership team has close ties to Chapel Hill and we are thrilled to make our home here."
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"Innovative companies are attracted to North Carolina because our state offers the right ingredients for success," said North Carolina Commerce Secretary Anthony M. Copeland. "As a major hub for information technology and some of the leading research centers in medicine, the Research Triangle region offers the perfect place for Well's next phase of growth."
The North Carolina Department of Commerce led the state's support for the company during its site evaluation and decision-making process.
Although wages will vary depending on position, the average salary for all the positions will reach $63,020. The Orange County average wage is $46,112.
Well's project in North Carolina will be facilitated, in part, by a Job Development Investment Grant (JDIG) approved by the state's Economic Investment Committee earlier today. Over the course of the 12-year term of this grant, the project is estimated to grow the state's economy by $609 million. Using a formula that takes into account the new tax revenues generated by the new jobs, the JDIG agreement authorizes the potential reimbursement to the company of up to $3,394,500 spread over 12 years. State payments only occur following performance verification by the departments of Commerce and Revenue that the company has met its incremental job creation and investment targets. JDIG projects result in positive net tax revenue to the state treasury, even after taking into consideration the grant's reimbursement payments to a given company.
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Because Well chose to expand in Orange County, classified by the state's economic tier system as Tier 3, the company's JDIG agreement also calls for moving as much as $1.1 million into the state's Industrial Development Fund – Utility Account. The Utility Account helps rural communities finance necessary infrastructure upgrades to attract future business. Even when new jobs are created in a Tier 3 county such as Orange, the new tax revenue generated through JDIG grants helps more economically challenged communities elsewhere in the state. More information on the state's economic tier designations is available here.
"The people of Chapel Hill and Orange County look forward to supporting Well's leaders and new employees as they grow their company in our community," said N.C. Senator Valerie Foushee. "We welcome these new jobs to our region."
"It's exciting to see this new operations center locate in Chapel Hill," said N.C. Representative Verla Insko. "Many people at both the state and local level worked hard to attract this project. I look forward to working with and supporting this company for many years to come."
Partnering with the North Carolina Department of Commerce and the Economic Development Partnership of North Carolina on this project were the North Carolina Community College System, Orange County, the Town of Chapel Hill, Orange County Economic Development, and Chapel Hill Economic Development.
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