Doctors in the desert: El Paso's $120M hospitalDoctors in the desert: El Paso's $120M hospitalhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=42422014-05-13T09:31:00Z2014-05-12T00:00:00Z

EL PASO - A $120 million, 108-bed teaching hospital will break ground in 2014 on the West Side at Transmountain Rd. and Resler Dr. after the city council awarded Tenet Hospitals Limited a $14.2 million incentive package.

The hospital, which will eventually expand to 140 beds, is expected open in fall 2016 and will serve as a teaching hospital for medical and nursing students as well as resident physicians and faculty from the Texas Tech University Health Sciences Center at El Paso's Paul L. Foster School of Medicine.

Under the incentive agreement, Tenet is to spend at least $120 million to build the facility, including $105 million for the hospital itself. The remaining $15 million would be for a medical office building. Tenet, which owns and manages the Sierra Providence Health Network, will also run the full-service hospital.

Tenet will be required to create and maintain at least 300 full-time jobs that pay an average $45,000 a year during the agreement's 15-year term. Additionally, the company would be required to retain all of its 2,991 existing full-time positions at its three other hospitals.

The project is estimated to have a direct economic impact of more than $87.5 million in construction alone, and more than $30 million in direct employment impact.

The city will rebate more than $12.7 million in incremental property taxes, meaning Tenet would only pay 65 percent of its appraised value during the 15-year agreement. The company is required to have a minimum base value of about $674,000 — the value of the land as it is now.

Read more at the El Paso Times.

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