PA: Cotiviti Expands in Montgomery County, Adds 216 New Jobs
17 Mar, 2017
Governor Tom Wolf announced Cotiviti Holdings, Inc., a provider of payment accuracy services, will expand operations at its existing location in Blue Bell, Montgomery County, and create 216 new, high-paying jobs.
“I’m pleased to share that Cotiviti has chosen to expand its operations in Montgomery County and that it will grow its employee headcount in the commonwealth to more than 900,” said Governor Wolf. “Cotiviti offers stable employment opportunities that provide family sustaining wages, helping to rebuild Pennsylvania’s middle class.”
To accommodate projected growth, Cotiviti has leased an additional 86,000 square feet of space at its existing location in the Arborcrest office campus at 785 Arbor Way, Blue Bell. Cotiviti will invest at least $8.2 million in the project, including leasehold improvements, upgraded IT equipment, and fixture purchases. Cotiviti has committed to the creation of 216 new, full-time jobs over the next three years, and to the retention of 719 existing jobs. Construction is expected to begin May 2017.
Cotiviti received a funding proposal from the Department of Community and Economic Development that includes a $450,000 Pennsylvania First Program grant and $432,000 in Job Creation Tax Credits to be distributed upon creation of the new jobs.
The project was coordinated by the Governor’s Action Team, an experienced group of economic development professionals who report directly to the governor and work with businesses that are considering locating or expanding in Pennsylvania.
Cotiviti Holdings, Inc. is a payment accuracy provider that helps healthcare payers and retailers achieve their business objectives by discovering incongruities in the interactions customers have with stakeholders. The company helps clients capture over $3 billion annually through improved payment accuracy. Cotiviti provides services to eight of the top 10 U.S. healthcare payers and eight of the top 10 U.S. retailers.
Last year, DCED approved nearly $1.1 billion in low-interest loans, tax credits, and grants for projects across the commonwealth and secured private sector commitments for the creation and retention of more than 245,000 full-time jobs. In the same timeframe, the Governor’s Action Team completed 77 projects – creating and retaining more than 36,800 jobs. For more information about the Governor’s Action Team or DCED, visit dced.pa.gov.