Active PILOTs created or retained 39,000 local jobs
An update to the EDGE board Wednesday suggested collective wages from companies with PILOTs is around $6 million annually.
Topic: PILOT
RSSThere are 51 article(s) tagged PILOT:
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September 2024
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May 2024
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Thompson Machinery, pickleball earn Collierville approvals
Thompson Machinery plans to develop roads and infrastructure which could encourage more business in the area. Pickleball 901’s conditional-use permit allows pickleball anywhere with Carriage Crossing.
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March 2024
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Thompson Machinery’s Collierville move would be $84M investment
If Thompson relocates to Collierville, it will be one of the biggest investments in the suburb’s history.
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February 2024
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EDGE approves 15-year incentive for massive high-speed internet project
With Memphis’ internet speeds among the slowest among major cities, EDGE officials say this project is an opportunity for growth.
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Blue Suede Networks applies for 15 year tax incentive for $829M project
In five years, BSN estimates the economic impact of its project will be $1.4 billion, create 4,600 jobs and generate $5.76 million in local taxes and fees.
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100 N. Main developers apply for 30-year PILOT
Renovation of the 792,873-square-foot building will now cost more than $282-million, a 7% increase from the previous budget when presented to the Downtown Mobility Authority in 2022.
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January 2024
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Collierville Industrial Development Board votes against Helena PILOT
Helena Agri-Enterprises will not receive a PILOT from the Collierville. Board members thought the capital investment was too low.
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The Vic on Union downsizes and delays tax incentive closing
The new design will be a four-story apartment complex with 126,762 square feet of rental space, 243 apartment units, a two-and-a-half-story parking garage with 260 spaces and less amenity space.
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December 2023
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Renasant Bank’s PILOT has been terminated
The bank has not been able to meet the hiring requirements during the two-year “ramp-up” period.
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Developer receives PILOT to build apartments near Overton Square
“I’m excited to bring a little more density to the area,” said developer Alfredo Cerpa. “But not just come with a new modern thing, but integrate what is existing in the community.”
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November 2023
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Helena asks Collierville for retention tax incentive ahead of lease renewal
The payment-in-lieu-of-taxes request comes as the company is reviewing a lease renewal for a minimum of five years on its 102,000-square-foot headquarters it rents from Boyle.
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October 2023
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Collierville Campbell Clinic tax incentive receives final approval
The six-year payment-in-lieu-of-taxes incentive, approved Monday night, Oct. 23, comes as Campbell Clinic officials look to build a facility at the northwest corner of Bailey Station Road and Poplar Avenue.
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Collierville Industrial Development board OKs Campbell Clinic PILOT
Collierville’s Industrial Development Board approved Campbell Clinic’s retention tax incentive. The suburb’s Board of Mayor and Aldermen must approve payment in lieu of taxes.
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September 2023
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LeSaint, Medtronic granted amended tax incentives
The Economic Development and Growth Engine of Memphis & Shelby County approved two amended tax incentive plans for LaSaint Logistics and Medtronic Logistics with partner CEVA Logistics.
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July 2023
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Developers of historic South Main Masonic building seek new incentives
In 2022, AOD Properties was awarded a $60,000 Exterior Improvement Grant from the Downtown Memphis Commission to renovate the building at 154 G.E. Patterson Ave.
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January 2023
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Collierville leaders ratify 15-year tax incentive for Orgill
Collierville’s mayor and aldermen ratified the PILOT that the Industrial Development Board approved last month.
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Conrad Pearson decides against moving
Conrad Pearson will stay in Germantown but not move to a site as it had planned.
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December 2022
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Collierville Industrial Development Board endorses PILOT for Orgill showroom
Orgill’s request for a 15-year PILOT clears Collierville’s Industrial Development Board and heads to the Board of Mayor and Aldermen for consideration.
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October 2022
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Downtown board discusses additional transparency for PILOTs
Eligibility requirements for PILOTs may change.
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‘Young Rock’ TV series seeks multi-year jobs PILOT
The third season of “Young Rock” will feature 13 episodes all filmed in or around Memphis and Shelby County.
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August 2022
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Downtown board wants 10-year PILOTs to be norm
A series of sticks and carrots also encourages developers to get in the affordable housing market.
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June 2022
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Political Roundup: Looking for votes in the heat
The roundup includes the contenders for county mayor clashing over PILOTs and other economic development incentives, reaction to the Roe v. Wade repeal and early-vote strategies.
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March 2022
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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.
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February 2022
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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.
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January 2022
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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.
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