Monday March 15, 2010
Signature HealthCARE, the nation’s 12 largest operator of senior care facilities with nearly 11,000 employees, will move its corporate headquarters to Louisville, Mayor Jerry Abramson announced today.
The move will create 120 new jobs with an average annual wage of $75,000, Abramson and Gov. Steve Beshear said. The new headquarters location will also result in a nearly $5.4 million investment.
“The leaders at Signature HealthCARE are running what is one of the most innovative and compassionate senior care companies in America,” Abramson said. “The fact that they’ve chosen Louisville for their headquarters adds yet another company to the city’s growing senior care industry.”
“Kentucky is proud to once again attract an industry-leading headquarters operation, creating more than 120 new high-paying, quality jobs,” Beshear said. “The location of Signature HealthCARE’s national headquarters helps to solidify Louisville as a leader in the aging care industry and is a testament to the business climate and quality of life Kentucky offers.”
Signature HealthCARE, one of the fastest growing privately held companies in the United States, operates 66 long-term healthcare facilities in seven southeastern states. The company will buy a 65,630 square-foot facility located at 12201 Bluegrass Parkway in Louisville, which will serve as its national headquarters including corporate management and facility operational support functions.
“Signature HealthCARE is a unique organization that believes it can radically transform long-term care in this country through its key organizational pillars: intra-preneurship, learning and spirituality,” said E. Joseph Steier, III, president & CEO of Signature HealthCARE. “Louisville, Kentucky will provide a great central location with one of the best quality of life environments for families, rich university partnerships and an amazing talent pool to foster aggressive growth. A key differentiator for the decision was the true collaborative effort of the economic development teams at both the state and local levels. We welcome the incentive package as support to facilitate our move from south Florida. Our team is truly excited to call Louisville our permanent home.”
Gov. Beshear also announced Signature HealthCare’s partnership with Nucleus, the University of Louisville’s driving force behind a life sciences hub in downtown Louisville, to create the International Center for Long Term Care Innovation. As the country’s first long-term care innovation center, the center will house and assist in the development of early-stage health technology and services companies seeking to bring new ideas to the aging care industry.
“The University of Louisville has several world class faculty and research programs who are engaged in aging care research and development. Our researchers are on the forefront in senior-focused health care, gerontology, geriatric medicine and aging,” said Dr. James Ramsey, president of the University of Louisville. “As the state’s life sciences and innovation center, Nucleus has everything it needs to establish a center that will be a core component of this community-wide effort.”
The location of Signature HealthCARE helps to further enhance Louisville’s economic development strategy to develop an aging care industry cluster in the region. Louisville, which is at the center of the growing aging care industry in the United States, is home to nearly 4,000 industry professional producing over $14 billion in revenue. Eight of the top 20 employers in the Louisville metro area are health-related businesses.
“The presence of world class companies like Signature HealthCARE in Louisville solidifies our region as the leader in the long-term care industry,” said Joe Reagan, president & CEO of Greater Louisville Inc. – the Metro Chamber of Commerce. “The synergy created by suppliers, ground-breaking research and firms catering to the lifestyle changes of an aging demographic will lead to an infusion of innovation and activity around this important business sector.”
The Kentucky Economic Development Finance Authority preliminarily approved Signature HealthCARE for tax incentives up to $4 million through the Kentucky Business Investment program. The incentives can be earned over a 10-year period through corporate income tax credits and wage assessments. The maximum annual amount approved to be earned by Signature HealthCARE is $400,000.
For further information about potential positions available at Signature HealthCARE, please visit www.yourkysignaturecareer.com. A community profile for Louisville can be viewed at http://thinkkentucky.com/EDIS/cmnty/index.aspx?cw=091.
Information on Kentucky’s economic development efforts and programs is available at www.ThinkKentucky.com.