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With a cap on his firm's annual business license fees now in place, CareCore CEO Don Ryan says the company will continue to create jobs in Bluffton, including about 120 the company threatened to move to Colorado Springs, Colo., if it didn't get relief from the town.
Bluffton Town Council on Tuesday unanimously approved a cap on taxable revenues for all Bluffton business at $25 million.
Ryan said the cap addresses the health insurance plan consulting firm's most pressing need and that there are no other immediate problems that would derail the firm's plans in Bluffton.
"If you decide to relocate jobs ... that takes time to organize," CareCore CEO Don Ryan said. "This problem was resolved very expeditiously. The jobs will end up here."
As of June 2009, the company had 350 employees in Bluffton, according to town figures, making it the town's largest private employer. Ryan said the company has since added about 100 more. As they continue to grow, he said, they hope to create more than 600 jobs in the area.
CareCore is set to complete construction this fall on a 32,000-square-foot building to house its management, finance and legal team, among other departments.It will sit beside the 50,000-square-foot main office at the firm's Buckwalter Place campus.
By creating additional jobs, the firm will continue to benefit from tax breaks, on top of grants and incentives it has received since committing to move to Bluffton in 2004.
The state has offered the company a $2.5 million tax credit spread over 10 years based on the number of employees hired. The company will also receive tax breaks estimated at $1 million for relocating its headquarters to Bluffton.