A company that helps health systems and health plans implement value-based care models could open a Louisville office with hundreds of jobs.
Evolent Health LLC, which has headquarters in San Francisco and Arlington, Va., has received preliminary approval for $10 million in tax incentives Thursday by the Kentucky Economic Development Finance Authority to create a new regional headquarters here for its national Medicaid business.
The tax incentives are contingent on Evolent (NYSE: EVH) meeting job targets over the next ten years — 200 jobs the first year and 647 by year four — as it develops a Medicaid Center for Excellence in Jefferson County.
As of the application date, the company had one Kentucky full-time employee on staff.
The company could not be reached for comment. According to the KEDFA filing, the new center would be a nearly $42 million total investment, including $26.4 million in rent, $3.123 million construction and building improvements and $12.2 million in other startup costs. The company would be located in a new facility, according to the filing, but no details were included about that facility.
Evolent works with health systems and health plans to adjust to value-based models of care, where reimbursement for services incentivizes patient outcomes, according to its website.
The company expects the new Louisville center will provide "expertise, operational support and innovative patient-centered care solutions" to its clients, according to the filing. And, it said, the center "will serve as a leader in the creation of shared services that are repeatable and portable on a national scale as Evolent supports future Medicaid clients."