There are 54 article(s) tagged PILOT:

• March 2022

  • A guide: Making sense of economic development terms

    Don’t know the DMC from the MLC, or the CCRFC from the CBID? Here’s a quick guide to some commonly used business and economic development terms and organizations. 

    By Neil Strebig March 13, 2022

• February 2022

  • PILOT sought for Northside High School building conversion

    The Works, Inc. plans to develop a community hub that would house organizations that provide technical skills training and workforce development, comprehensive healthcare services, literary advocacy, as well as performing and visual arts programming. 

    By Rob Moore February 11, 2022

• January 2022

  • New York-based firm could invest $112.5M in former Nike facility

    According to a term sheet related from EDGE, Memphis would become home to three manufacturing lines running multiple shifts with capacity to annually produce approximately 22,500 containers and 30,000 chassis. 

    By Rob Moore January 17, 2022

• December 2021

  • Memphis-based Connect Music connects artists to top streaming platforms

    The rapid shift from physical to digital created a need for services that can aggregate the data and distribute it for consumption, which is where Connect Music found its opening. 

    By Rob Moore December 30, 2021

• November 2021

  • Downtown board approves new PILOT for Medical District development

    The five-story development would include residential and retail space. 

    By Rob Moore November 17, 2021

• October 2021

  • Downtown board approves consultant to review tax incentive policy

    St. Louis, Missouri-based PGAV Planners will determine if the PILOT program is delivering the desired results of growing the tax base and helping projects happen that couldn’t otherwise. 

    By Rob Moore October 12, 2021

  • Downtown board reexamines PILOT program, considers new applicant

    At its Oct. 12 meeting, the Center City Revenue Finance Corp. is set to approve a plan for reviewing its PILOT program, and it will hear a new PILOT request for a Medical District development. 

    By Rob Moore October 12, 2021

• September 2021

  • Germantown approves retention PILOT for medical facility

    Conrad Pearson will build a new facility less than a mile from its current location.

    By Abigail Warren September 28, 2021

  • Germantown to review retention PILOT for new medical office

    Germantown will review a PILOT for new medical offices Monday evening. Aldermen will also review a resolution formalizing their stance on consolidation.

    By Abigail Warren September 23, 2021

• February 2021

  • City looking to rectify imbalance in MLGW water bill

    The city has been paying Memphis Light, Gas and Water Division about $2 million a year for the past three fiscal years without a corresponding payment from MLGW in the form of a PILOT.

    By Bill Dries February 02, 2021

• January 2021

  • Industrial tool seller may buy, operate Memphis center

    Imperial Industrial Supply Co. seeks a tax incentive in return for buying an industrial building in Memphis for distribution of its products. The project would mean a $21 million investment and 35 jobs.

    By Tom Bailey January 17, 2021

  • Central Yards receives tax incentive

    The Center City Revenue Finance Corp. board voted 7-0 to approve a 20-year incentive that will save developers of the $77 million Central Yards project $23 million in property taxes.

    By Tom Bailey January 13, 2021

• December 2020

  • County Commission questions financing of $62M Downtown parking project

    Monday’s delay by the Shelby County Commission follows a similar delay in approval by the Memphis City Council.

    By Bill Dries December 07, 2020

• June 2020

  • Memphis needs a moral budget

    The notion that low taxes are good for Memphis is a bill of goods, more hollow than the Pyramid and less financially sound. Low taxes help the richest in our society and hurt the rest of us.

    By Osagyefo Sekou, Kevin Bradshaw June 04, 2020

• February 2020

  • Sheraton plans upgrade of city’s original convention center hotel, seeks tax breaks

    The owners of the Sheraton convention center hotel will seek a 30-year PILOT – payment in lieu of taxes – incentive for a major renovation of the 600-room, two-tower hotel.

    By Bill Dries February 04, 2020

• January 2020

  • PILOT approved for IMC Companies relocation to Collierville

    IMC Companies' 10-year PILOT was approved earlier this month. The company released details on its plan to invest in Collierville.

    By Abigail Warren January 03, 2020

• October 2019

  • Conaway: New incentive, old-school pork

    Raymond James, headquartered in St. Petersburg, gets in a fight with their landlord Jacob Sofer, headquartered in New York, over elevators in their Downtown Memphis office building, and the next thing you know, EDGE has given Raymond James $3,238,440 of your and my money to move to East Memphis. 

    By Dan Conaway October 25, 2019

  • EDGE board approves Raymond James tax incentives, Raleigh TIF

    Raymond James plans to create 100 jobs and invest $23.6 million to consolidate its Memphis offices and a new tax increment financing district is expected to spur economic development in Raleigh.

    By Omer Yusuf October 17, 2019

• August 2019

  • Chinese e-commerce subsidiary seeks PILOT for Memphis warehouse

    Cherry Tree International Corp. is seeking a 10-year Fast Track PILOT from EDGE to create 25 new jobs in Memphis. 

    By Elle Perry August 21, 2019

• May 2019

  • EDGE approves 15-year PILOT for Pandrol USA

    A railroad products manufacturer may be moving its U.S. headquarters from New Jersey to Memphis after receiving a 15-year property tax incentive on Wednesday.

    By Elle Perry May 15, 2019

• April 2019

  • Dulberger: IKEA seems ‘committed to making the Memphis store work’

    Despite creating fewer jobs and paying lower salaries than promised, EDGE CEO and president Reid Dulberger says IKEA is committed to its Memphis store. 

    By Michelle Corbet April 17, 2019

  • Beacon Center: On EDGE and PILOTs, the numbers don’t add up

    Peel back the fancy ribbon-cutting ceremonies and press conferences for new jobs and all you’re left with is handouts to big, connected companies and higher taxes for the rest of us.

    By Ron Shultis April 14, 2019

  • EDGE: Tax abatement works in a competitive world

    Companies want to locate in communities that will work with them long after the ribbon-cutting and headlines are done. We know that our local firms are constantly being courted by other communities looking to grow their economies.

    By Reid Dulberger April 14, 2019

  • Smucker, Cleveland Track seek incentives to expand Memphis operations

    Two Memphis companies are ready to hire 76 new workers and invest nearly $15 million combined to expand local operations. 

    By Terry Hollahan April 13, 2019

• February 2019

  • Strickland: City, county ‘overpaid’ for Electrolux

    Memphis Mayor Jim Strickland says a month ago, Electrolux executives assured him their Memphis plant would stay open and even expand to include new product lines. With word of the plant closing in 2021, he told The Daily Memphian Politics Podcast the city, county and state "overpaid" in terms of incentives.

    By Bill Dries February 07, 2019