Gov. Rick Perry today announced the state is investing $1.6 million through the Texas Enterprise Fund (TEF) in Health Management Systems, Inc. (HMS) to consolidate its national headquarters to Irving. This investment will create 350 jobs and generate an estimated $17.6 million in capital investment.
“All across Texas, municipalities and their economic development corporations are teaming up with the Texas Enterprise Fund to make a very compelling case for doing business in Texas,” Gov. Perry said. “Businesses across the state are succeeding in the job-friendly environment we’ve worked hard to cultivate, with a combination of low taxes and low government spending, predictable regulations, a reformed legal system and increasingly accountable public schools.”
HMS provides coordination of benefits and program integrity services for healthcare payors. The company’s clients include health and human services programs in more than 40 states; commercial programs, including commercial plans, employers and more than 100 Medicaid-managed care plans; and the Centers for Medicare and Medicaid Services and Veterans Administration facilities. As a result of the company's services, clients recover more than $1 billion annually and save billions of dollars more in the prevention of erroneous payments.
“HMS is very pleased to be consolidating our operations in Irving, and the Texas Enterprise Fund was a key component of our decision to make a long-term commitment to the state,” HMS CEO Bill Lucia said. “Texas, and the Dallas Metroplex in particular, provide HMS with an excellent pool of talent to help support our mission to improve the effectiveness of our nation’s healthcare system. We look forward to a mutually productive relationship, and serving as a valued corporate citizen in this community.”
“We are very pleased that HMS has chosen Irving for their corporate headquarters,” Irving Mayor Herbert A. Gears said. “HMS has continued to add new top-quality jobs to Irving since late 2007, when they located their National Operations Center here. This highly-successful company is a major contributor to the economic engine of our community, region and the great State of Texas.”
At Gov. Perry’s request, the legislature created the TEF in 2003 and re-appropriated funding in 2005, 2007 and 2009 to help ensure the growth of Texas businesses and create more jobs throughout the state. TEF projects must be approved by the governor, lieutenant governor and speaker of the House. The fund has since become one of the state’s most competitive tools to recruit and bolster business. To date, the TEF has invested more than $411 million and closed the deal on projects generating more than 54,100 new jobs and more than $14.5 billion in capital investment in the state.
For more information about the TEF, please visit http://www.texaswideopenforbusiness.com/financial-resources/texas-enterprise-fund.html or http://www.governor.state.tx.us.