2022 Annual Comprehensive Financial Report

in similar incentives. The distribution center will produce an estimated incremental increase in tax revenue of $19.9 million over 10 years and have an economic impact of $1.38 billion over 12 years. Publix is a privately held, employee-owned company with operations throughout the southeastern United States, including nine distribution centers. In 2018 and 2020 to 2022, Fortune magazine named Publix number one on its list of World’s Most Admired Companies in the food and drug stores sector and in 2019, Publix was named number two on the list. Communications industry leader, Qorvo , has expanded by buying Amalfi Semiconductor, another cell phone component manufacturer located in California. In December 2015, the company added an additional 100 new jobs over a period of 3 years as part of a $25 million expansion of its Guilford county operations, primarily in research and development. One of the area’s largest employers and few locally headquartered public companies, Qorvo currently employs approximately 1,400 workers in Guilford County. Qorvo is the outcome of a $2 billion merger between RF Micro Devices and TriQuint Semiconductor, an Oregon-based microchip products company. In August 2016, the Greensboro site was named the sole headquarters location. In May 2022, Cone Health announced its plans to expand its heart and vascular care by adding or renovating more than 260,000 square feet across several of its facilities, including a new 156,000 square foot, five-story heart and vascular outpatient tower on the Moses Cone Hospital campus. Construction is expected to begin in December 2022 and be completed in late 2025. Cone Health received State approval in 2016 for plans to pursue a $100 million project to relocate the standalone Women’s Hospita l to a 196,000 square-foot, 6-story new construction addition on the south side of the existing Moses H. Cone Memorial Hospital. The new facility opened in February 2020. Soon after the Women’s hospital moved to its new location, the original hospital building was quickly transformed into a Covid-19 stand-alone facility and re-opened on April 13, 2020 to rapidly address the immediate needs resulting from the pandemic. As a result of Cone Health’s quick and innovative response to the pandemic, it was named one of 103 hospitals in 28 countries to receive the Beyond the Call of Duty for Covid-19 recognition badge from the International Hospital Federation (IHF). In August 2021, Cone Health announced plans to invest $34 million to bring new and expanded heart care and interventional radiology services as well as redesigned breast care facilities to Alamance Regional Medical Center, adding 14,000 square feet and renovating approximately 49,000 square feet. The expansion project is expected to take over two years to complete. In 2018, Cone Health invested $38 million in renovations of operating suites at Wesley Long Hospital and $23.5 million for an emergency MedCenter in Northwest Greensboro to meet the expanding need for emergency medical services in the area. These projects continue to ensure long–term sustainability and transform health care services for the community and add to the substantial investment Cone Health made in its North Tower project, which opened in June 2013. Cone’s Triad Healthcare Network ranks among the top-performing Medicare accountable care organizations in the U.S., according to federal data. Established in 2012, the network includes about 2,000 providers. In 2021, Healthgrades ranked three Cone Health hospitals; Annie Penn Hospital, The Moses H. Cone Memorial Hospital and Wesley Long Hospital, among America’s 100 Best Hospitals for Orthopedic Surgery and Joint Replacement. These three hospitals are the only North Carolina hospitals to receive this ranking. Healthgrades is a leading organization that evaluates the performance of nearly 4,500 hospitals for 32 common procedures and conditions. In 2022, Moses H. Cone Memorial Hospital tied for third by U.S. News for the top hospitals in North Carolina. Also in 2022, Cone Health received straight A’s in hospital safety rankings by Leapfrog, an independent national organization that assigns a letter grade to hospitals across the country based on more than 30 performance measures.

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