There are 20 article(s) tagged PILOT:

• 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

• December 2018

  • EDGE: Trucking firm moves, YMCA preps for renovations, manufacturer sells

    Power Transport, a transportation and logistics company with a fleet of more than 125 trucks, is seeking a tax abatement to fix up a warehouse near the airport for its corporate offices.

    By Michelle Corbet December 14, 2018

  • Building density, building community

    With a shared private and public goal to increase population density as a mechanism to become more efficient and successful as a city, the expansion of Memphis and Shelby County’s Economic Development Growth Engine (EDGE) payment in-lieu-of taxes (PILOT) incentive to include Midtown has been welcomed by multifamily developers in our community.

    By Rick Wood December 11, 2018

• November 2018

  • Hard seltzer sales spur Memphis distribution center

    White Claw Hard Seltzer is the main reason malt beverage maker Mark Anthony Brewing Inc. wants to establish its own distribution center in Memphis.

    By Michelle Corbet November 15, 2018

• September 2018

  • L.A. boutique hotel plans to ARRIVE in Memphis next year

    Palm Springs, California. Austin, Texas. Phoenix, Arizona. Wilmington, North Carolina. Albuquerque, New Mexico. Houston, Texas. Memphis, Tennessee.

    By Elle Perry September 20, 2018