For release: August 16, 2012
Contact: Gerald Coggin, Sr. VP of Corporate Relations
Phone: (615) 890-2020
MURFREESBORO, Tenn. – National HealthCare Corporation (NYSE MKT: NHC; NHC.PRA), one of the nation’s leading operators of senior care services, announced today that it has selected Tullahoma, Tennessee for a new state of the art healthcare facility. The new skilled nursing and rehabilitation facility, which will be located on Cedar Lane, will have 90 beds and at full operation will directly employ over 100 employees. Projected capital investment of the project will be $10.75 million.
“We are excited to choose Tullahoma as the location of our newest facility dedicated to providing the best quality nursing and rehabilitation care to the senior residents of Coffee and surrounding counties,” stated NHC President Steve Flatt. “We appreciate the tremendous support and cooperation we have received from the City of Tullahoma and its leaders.” NHC plans to begin construction on the approximately 62,000 square foot facility by the first of September and construction is expected to take approximately 12 months.
“We are tremendously pleased that NHC has selected the City of Tullahoma for the location of a health and rehabilitation facility. This capital investment of nearly $11 million and 100 jobs phased in over the next three years will be a significant boost to our economy. This is a great day for Tullahoma and we are excited about providing additional healthcare services to our citizens and providing job opportunities for our community. Tullahoma is an incredible place to live, work, and raise a family, and the addition of NHC further adds to the quality of life that we enjoy as citizens of Tullahoma. Healthcare services and providers are a vital part of our economic engine and we are thrilled to land this project,” stated Lane Curlee, Mayor of Tullahoma.
“This project fits perfectly into our current plan of widening Cedar Lane and we feel this project will kick start our plans for further establishing that corridor as a medical zone for future projects. Given the importance of medical services in Tullahoma and our emphasis on being the medical hub for all the surrounding counties, the addition of NHC and this facility further enhances our position as the leading provider of healthcare services for the region. We have worked well with their staff and will continue to work with them to make sure the implementation and construction of this project continues to go smoothly. Our staff stands ready to assist any company who wants to locate in Tullahoma and create jobs. NHC is a welcome addition to our community,” added Jody Baltz, III, City Manager for Tullahoma.
“NHC is an outstanding company and a leader in the healthcare industry. We are very pleased to make this announcement and our project team, our city staff, and our Board members all worked diligently to make this a smooth and successful project that will benefit the citizens of this region for years to come. In addition to the jobs, which are most welcome, the availability of quality healthcare services makes our footprint as the medical hub for several counties even larger and provides additional options for our citizens. This is a great day for Tullahoma and I am thrilled to have worked with the representatives of NHC and our Board to make this project happen in our community,” stated Daryl Brady, Executive Director Tullahoma Area Economic Development Corporation.
Wages paid to these new jobs (direct and indirect) will total approximately $5.3 million generating approximately $215,000 in new local tax revenues annually. The total economic impact from this facility on the Coffee County economy is projected to be $14.3 million annually according to an economic feasibility study.