$22M tax break sought for senior-living community
Developers of OaksEdge in East Memphis seek a residential PILOT to build an $89 million, 240-unit senior living campus near Dixon Gallery & Gardens.
Topic: EDGE
RSSThere are 98 article(s) tagged EDGE:
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November 2019
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EDGE approves Orange Mound Superlo loan
The Superlo loan is identical to one granted by the same body last year for a new Cash Saver in Southgate Shopping Center.
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October 2019
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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.
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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.
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September 2019
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Renasant Bank plans new Memphis headquarters building
Mississippi-based Renasant Bank is seeking a tax incentive for plans to build a new headquarters to serve its Memphis market. The $15.8 million development is to rise at 5575 Poplar, where the now-empty Executive Square office buildings stand.
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August 2019
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EDGE approves tax incentives for ‘Bluff City Law’ and e-commerce operation
EDGE awarded PILOTs to NBCUniversal for “Bluff City Law” and Cherry Tree International for a Memphis distribution center.
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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.
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Electrolux plant closing postponed to at least June 2021
Workers at Electrolux Memphis cooking appliance factory have a reprieve of up to nine months on a previously announced closing date. Electrolux said it will stay open through June 2021.
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July 2019
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HUD official’s visit gives Shelby County another ally in Washington
Shelby County economic development leaders Wednesday were able to explain their projects to a HUD official as he helps communities tap into the Opportunity Zone program.
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EDGE board approves PILOTs for four projects
EDGE board approves incentives for projects across the city, from warehouse space to studio living near the University of Memphis.
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Logistics startup considers Memphis for development, manufacturing headquarters
A startup working to improve efficiency and reduce costs related to warehousing and logistics is considering Memphis as the location for its development and manufacturing headquarters.
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Patterson Warehouses expansion pits Memphis against North Mississippi
Patterson Warehouses Inc. is planning a $30.2 million expansion. To ensure the project stays in Shelby County, EDGE is recommending a six-year tax abatement.
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Tax breaks sought for two U of M-area apartment developments
A Florida developer seeks tax incentives to build two student housing developments totaling 50 units near the University of Memphis.
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Farmers market regular plans to open pasta, pizza restaurant in Midtown
The vacant Fuel Cafe on Madison could be renovated into a new pizza and pasta restaurant by a local grower who sells handmade pastas at local farmers markets.
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Site plan modifications sought for truck terminal expansion, senior living community
Developers of two large projects south of Interstate 240 are seeking amendments to their plans, one for a truck terminal expansion on American Way, the other for a gated residential community at Forest Hill-Irene and Shelby Drive.
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June 2019
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Railway manufacturer expands Memphis facility
After securing a PILOT earlier this year, Cleveland Track Material Inc. has completed a $6 million expansion of its Memphis manufacturing facility that will result in 51 new jobs.
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May 2019
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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.
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French company Pandrol seeks PILOT to move North American HQ to Memphis
Railroad track products manufacturer Pandrol USA LP is seeking a PILOT to create 73 jobs, invest $9.3 million and establish its North American headquarters at 611 Winchester Road.
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EDGE approves ICED loans for Soulsville burger joint, Whitehaven hair salon
The finance committee of the Economic Development Growth Engine for Memphis & Shelby County (EDGE) approved two forgivable loans for small businesses Wednesday.
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Mystic Styles Glam Studio, Al’s Tasty Burger seek ICED loans
A restaurant owner seeking to open an Al’s Tasty Burger in its original Soulsville location and a long-time Whitehaven hair salon owner are seeking Inner City Economic Development (ICED) loans.
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April 2019
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IKEA voluntarily seeks to lower tax abatement after failing to create 175 jobs
Trying to keep up with an "ever-changing retail environment," IKEA has offered to voluntarily drop two years of its property tax abatement since it has been unable to create the number of jobs at the pay levels it promised in 2015.
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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.
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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.
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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.
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Commissioners approve funding for new EDGE case managers
Shelby County Commissioners have approved committing $450,000 to the Economic Development Growth Engine over three years to hire two economic development case managers.
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