TUCSON, Ariz., Feb. 9 /PRNewswire/ -- The Providence Service Corporation, one of Tucson's largest companies with over 11,000 employees nationwide, today announced that it plans to relocate its corporate headquarters to downtown Tucson.
Providence, working with Peach Properties, will take over the vacant building at the corner of Scott and Broadway, adjacent to the new site of Tucson Electric Power's new headquarters.
"This will put two of Tucson's public companies side by side and should further support the downtown area as a developing business environment," said Fletcher McCusker, Chairman and CEO. "The recent improvements downtown, such as the Scott streetscape, Rialto block facade improvements, new restaurants, retail and fitness space along with the promise of a more friendly business environment, helped convince the Company to relocate."
"My grandfather laid sidewalks downtown for the Works Progress Administration (WPA)," McCusker added. "It is nice to be in a position to help the private sector revitalize our historic downtown."
"Providence could have gone anywhere in the city," Mayor Bob Walkup stated. "We are thrilled to see them come downtown. Hopefully this is another spark to get local and national businesses to see the value and long term prospects of a downtown Tucson location."
The mayor's office along with the Downtown Partnership, Madden Media and Tucson Electric Power were actively involved in recruiting Providence downtown.
Providence will initially move its executive and corporate staff of about 50 people as soon as the remodeling is finished, likely by the summer of 2010.
The Providence Service Corporation, through its owned and managed entities, provides home and community based social services and non-emergency transportation services management to government sponsored clients under programs such as welfare, juvenile justice, Medicaid and corrections. Providence does not own or operate beds, treatment facilities, hospitals or group homes, preferring to provide services in the client's own home or other community setting. The Company provides a range of services through its direct and managed entities to over 74,000 clients through 843 active contracts at September 30, 2009, with an estimated 7.3 million individuals eligible to receive the Company's non-emergency transportation services. Combined, the Company has a nearly $1 billion book of business including managed entities.
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "believe," "demonstrate," "expect," "estimate," "anticipate," "should" and "likely" and similar expressions identify forward-looking statements. In addition, statements that are not historical should also be considered forward-looking statements. Readers are cautioned not to place undue reliance on those forward-looking statements, which speak only as of the date the statement was made. Such forward-looking statements are based on current expectations that involve a number of known and unknown risks, uncertainties and other factors which may cause actual events to be materially different from those expressed or implied by such forward-looking statements. These factors include, but are not limited to the global credit crisis, capital market conditions, and other risks detailed in Providence's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2008. Providence is under no obligation to (and expressly disclaims any such obligation to) update any of the information in this press release if any forward-looking statement later turns out to be inaccurate whether as a result of new information, future events or otherwise.
SOURCE The Providence Service Corporation
|SOURCE The Providence Service Corporation|
Copyright©2010 PR Newswire.
All rights reserved