Healthcare ARM Firm Gets State Tax Credit to Consolidate Offices

Lt. Governor Lee Fisher today announced that the Ohio Tax Credit Authority has approved Job Creation Tax Credits for companies involved in business location or expansion projects that, if located in Ohio, are expected to contribute more than $460 million to Ohio’s economy, create 1,961 positions and retain 1,794 jobs.

"The companies approved for Job Creation Tax Credits are considering strong growth and investment projects in Ohio that will create economic opportunities for our communities and workforce," said Lt. Governor Fisher who also serves as Director of the Ohio Department of Development. "We are pleased companies recognize the advantages of doing business in Ohio and providing opportunities for our outstanding workforce."

Quadax, Inc. (Quadax), located in Middleburg Heights (Cuyahoga County), has been awarded a 40 percent tax credit for a seven-year term to consolidate several smaller facilities into one large facility. The value of the tax credit is estimated at $324,967 over the term, and the company would be required to maintain operations at the project site for 14-years.

Quadax has been providing accounts receivable management services to health care providers since 1973. The company offers a diversified level of services for health care professionals, labs and hospitals throughout the country and has developed proprietary software called Hospital Accounts Receivable Processor (HARP), a billing and accounts receivable management system that offers a high degree of customization to streamline billing services and address every client’s specific billing needs.

The company proposes to invest in land costs, building construction and new machinery and equipment to update its 86,000 square-foot facility that was constructed 1979. Quadax will consolidate employees at several locations into one facility and update its structure and systems, as well as expand its square footage by 100,000 square-feet to accommodate current and future staff requirements. The new location will serve as the company’s headquarters and operations center and will house management, IT staff, account managers and operations staff. This more than $9 million project, which is expected to create 100 jobs and retain 273 positions within the first three years of the project’s initial operations.