CareSource to add 650 new jobs in new tax incentive deal

CareSource will create at least 650 new jobs in Dayton over the next three years as part of an agreement with the Ohio Tax Credit Authority to extend a job-creation tax credit for the nonprofit health insurer that was set to expire in 2018.

Terms of the deal call for CareSource to boost its job-creation commitment to 1,920 jobs by 2019 — including current positions being filled and the new jobs promised — raising the company’s annual payroll in Dayton to more than $129 million, according to information provided by the Dayton Development Coalition.

CareSource had promised to create 150 jobs and grow payroll by about $6.3 million under the terms of the original tax credit granted in 2012, according to Shannon Joyce Neal, a spokeswoman for the coalition, who noted the extension is contingent upon state and local incentives.

“If you look at how we thought CareSource was going to grow back in 2012 to where it is today…that’s a tremendous amount of growth and investment in the community,’’ Neal said, noting the company has already far exceeded its 2018 goals.

In addition to employment, the company has upped its projected capital investment from about $3.6 million by 2018 to $42.4 million by 2019.


CareSource is already planning to expand its footprint in downtown Dayton with the construction of a new, seven-story, office building, CareSource Center City. The new building will allow CareSource to create a walkable campus-like environment for employees within the core of downtown Dayton while accommodating the company’s unprecedented growth.

CareSource has experienced rapid growth in recent years due to the passing of the Affordable Care Act, the launch of the Ohio dual eligible program MyCare Ohio, and a continual increase in Medicaid business through expansion and opportunities in new states.

The resulting exponential growth in the health plan’s membership has led to an unprecedented rise in employment with CareSource welcoming more than 800 new employees, just in 2016.

To accommodate such growth, CareSource earlier this year moved more than 200 employees into the 30-story Kettering Tower downtown. The building’s owner renovated the third and fourth floors of the building at 40 North Main St. to accommodate CareSource’s employees.

Recently, the JobsOhio Independent Review Panel approved a $300,000 revitalization grant for the renovations at Kettering, which will be reimbursed to the property owner.

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