Medical-testing company LabCorp is expected to announce this afternoon that it has chosen Greensboro for an expansion that will add hundreds of jobs in the Triad.
The Burlington-based company has previously said it wants to consolidate its billing operations from across the country into a central location. LabCorp officials considered sites in Greensboro and Danville, Va.
Gov. Bev Perdue's office has scheduled an "economic development announcement that will bring hundreds of jobs to Guilford County" for 2 p.m. at 531 S. Spring St., Burlington. That's LabCorp's corporate headquarters.
Guilford County commissioners and Greensboro officials last fall approved giving the company more than $620,000 in tax incentives to attract the jobs. The state is expected to kick in more money.
The news will follow this morning's announcement that LabCorp's sales and profit rose during the fourth quarter, despite the economic downturn. The recession is reducing the frequency of physician visits and medical tests, and fewer employers are paying for drug tests.
Excluding tax benefits and other one-time gains and losses, the company reported that it earned $1.16 per share. Its revenue increased 4 percent, to $1.17 billion.
LabCorp shares fell 41 cents to $70.56 in morning trading.
LabCorp employs about 28,000 workers worldwide, including more than 1,000 in the Triangle.
LabCorp hopes to open the billing center by the middle of 2010, vice president Brad Morton told Guilford commissioners in November.
Assistant Business Editor Alan M. Wolf joined the N&O in 1999 covering the business of health care. He became an editor in 2001, and helps oversee the paper's daily business coverage and Sunday Work&Money section. He lives in Clayton with his wife and two children. Reach him at 919-829-4572 or