During their last meeting, the Cedar Park City Council voted in favor of providing $433,200 in incentive payments to bring the headquarters of a cancer billing and consulting company to town.
“It’s a headquarters operation, which is one of our targets,” Phil Brewer, Director of Economic Development, said.
The company, Revenue Cycle Inc., is purchasing a $5 million, 30,000-square-foot office building on 5901 Volta Drive in Cedar Park. The building is under construction at
Revenue Cycle Inc. will create 151 jobs with 114 of those having an average annual salary of $65,000.
Cedar Park will pay the $433,200 in incentives to the company in installments that begin in 2017 and end in 2021. According to Brewer, the incentives are based upon requirements such as making sure the company finish building its headquarters by Nov. 30, 2017, and employ at least 98 people by Dec. 31, 2017. Brewer said the funds for these incentives will come from the half-cent sales tax used to support the Cedar Park Economic Development Corporation.
“This is significant, you guys [Revenue Cycle Inc.] are a leader in the industry, and to have a company like yours headquarter in Cedar Park is quite meaningful,” Cedar Park Mayor Matt Powell said. “Hopefully this will be a mutually beneficial development for everyone.”
Revenue Cycle Inc. was established in 2002 and will be relocating to Cedar Park from its current location on West Braker Lane in Austin. Ron DiGiaimo, the CEO of the company, said Cedar Park’s incentives will allow his business to expand quickly.
The company provides billing services for cancer treatment providers and is also involved in cancer center development and consulting. Revenue Cycle has clients all over the country and is the largest company of its kind in the private sector.