Formula Help

I have column with tittle Cost Center (CC), I need to create a formula to pick up 8 cost centers ID and flags in another column. The idea is to identify these 8 values as they need to be modify prior to another process taking place.

I have tried the HAS and IF(CONTAINS) but unsuccessful in string -

For example: IF(CONTAINS("CC1" "CC2" "CC3", [Cost Center (CC): [Cost Center (CC)]), "Update EC", "Don't Update EC")

In contains can it search for more than one value at a time?

Any guidance is appreciate it!

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