TN: EDGE Promotes Expansion and Job Growth for Memphis
29 Jan, 2020
United Parcel Service, Inc. (UPS) is growing its operation and EDGE is working to make sure that expansion is in Memphis. The company currently operates a combination air sort and ground sort hub here that employs more than 1,300 people.
That expansion would include a new automated parcel handling facility that would help increase capacity and enhance UPS’s competitiveness in the market. The project would also create 25 new supervisory jobs at an average base salary of $47,480 and invest $216,600,000 at its 3675 New Swinnea Road location. It would also secure Memphis’s place in the UPS network for years to come and ensure job growth and retention with the company.
The project, assisted by EDGE through a 15-year Jobs PILOT, would generate an estimated $845,119 in new property taxes each year during the PILOT term and $2.9 million annually after the PILOT on what is currently nontaxable land owned by the airport.
•25 New Jobs at $47,480
•$216,600,000 Capital Investment
•$845,119 in New Property Taxes Annually
•Expands UPS's Memphis Operation
•1,337 Existing Jobs
Blues City Brewery
Blues City Brewery is looking to expand its operations to boost its production capacity and capture a bigger share of the beverage market. Blues City Brewery is considering all three of its existing facilities but EDGE is providing assistance to keep that growth in Memphis. To remain competitive, the company needs to upgrade the aging manufacturing and processing equipment within its plant.
The company would invest $49 million in new manufacturing machinery and hire 155 people at an average base salary of $56,609 a year for its Memphis operation. The expansion would be assisted by a 12-year Jobs PILOT.
Blues City Brewery bought the former Schlitz bottling plant in 2011 and since then, has grown to 516 employees, manufacturing several popular national and international brands.
The project is in a severely distressed New Markets Tax Credit Qualified Census Tract with a poverty rate of 29.6% and an unemployment rate of 14%. It would generate an estimated $101,856 in new property taxes each year during the PILOT term, and $213,032 annually thereafter.
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