LabCorp, a Burlington-based medical test company, could receive as much as $621,791 from the city of Greensboro and Guilford County if it opts to locate its billing operation in Greensboro. The Greensboro City Council voted to approve the full requested amount of $373,000, or $1,000 per job, but the Guilford County Commission voted approve $667 per position because the jobs pay two-thirds of the county’s average salary. Brad Morton, a senior vice president, said the company is still deciding among Greensboro, another location in Virginia and doing nothing. If LabCorp settles on Greensboro, it would sign a 15-year-lease for space on Pinecroft Road, which is located in the city’s high-poverty Urban Progress Zone. The Greensboro facility could be employing people by the first half of next year. “Billing operations to LabCorp is a cost center,” Morton told the city council. “As a cost center, we’re not going to generate revenues with this project. And in fact, Year 1 of this project is going to cost LabCorp money and it breaks even by Year 2, and starts saving us money as an organization by Year 3. So the biggest hurdle for us as a company is the Year 1 investment.”
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