NATOMAS (CBS13) —  Health insurance giant Centene has announced their plans to come to Natomas. The Fortune 500 company finalized plans with The City of Sacramento to build a sprawling campus complex on 70 acres off East Commerce Way.

Sacramento Mayor, Darrell Steinberg says landing Centene is a historic victory.

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“We are going to site the first Fortune 100 company in The City of Sacramento,” Steinberg said.

Centene already employs 3,000 people in Sacramento and the new facility, Steinberg says, will bring at least 5,000 new jobs to the area. The positions will be in accounting, healthcare, and information technology. As part of an incentive deal with the city, most of the jobs will pay more than $60,000 a year.

“But its just the beginning” Steinberg said.

Local retailers and restaurants are happy with the addition. Denny’s General Manager, Natasha Hughes says the influx of thousands of jobs and thus people to Natomas will provide a welcome boost.

“There are limited options for dining out, so with all of the new business coming up and employees traveling through this area, it will bring us more business,” she said.

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As for long-term impact, Mayor Steinberg hopes Centene will be the catalyst to lure more healthcare and technology companies to Sacramento.

“If we are purposeful and intentional about investing in job creation and in economic development in the right ways, we can replicate Centene 10 times over, and I’m confident we will. Sacramento is increasingly being seen as the place to do business” he said.

And the new Centene campus could influence what’s done with the old Sleep Train Arena sitting vacant across the street.

The Sacramento Kings sent a statement: “Centene’s move to Natomas is proof positive of the region’s incredible workforce and economic strength. We continue to hold conversations with the city, stakeholders and interested parties to pursue entitlements and identify the best use of the 200-acre site that will support Natomas and the region.”

Selling points which\ mayor Steinberg not only agrees with but says helped seal the deal with Centene.

“I think they saw what we are all experiencing here in Sacramento, a renaissance,” he said.

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Construction on the site could begin within a month.