EDGE Board, Finance Committee Approve PILOT for ITT Goulds Pumps Relocation, Three Small Business Loans

The Economic Development Growth Engine (EDGE) Board today approved a 10-year Fast Track PILOT supporting the ITT Goulds Pumps, Inc. relocation and expansion to Memphis. The EDGE Economic Development Finance Committee also approved three Small Business Loans totaling $72,000. The Memphis and Shelby County Port Commission approved a new lease with Enterprise Products Partners, L.P. for property in the Memphis and Shelby County Industrial Subdivision.

ITT Goulds Pumps determined its current Southaven facility no longer provides the space or operational flexibility needed to support continued growth. The company is proceeding with a move to a 297,000-square-foot facility at 5633 Mineral Wells Road in Memphis to support product receipt and storage, inventory management, light assembly, order fulfillment and distribution, and related office and customer support functions, along with expanded assembly and fabrication capacity for increasingly customized product offerings.

The project represents approximately $30.2 million in total capital investment, including $27.2 million to acquire the facility and additional investment in building renovations, new machinery, and equipment. It is expected to create 57 new jobs across warehouse operations, administration, maintenance, assembly, fabrication, and management, at an average annual wage of approximately $52,858. The company will have a two-year ramp-up period to meet its commitments and must list all net new jobs with the University of Memphis, Southwest Tennessee Community College, and LeMoyne-Owen College, giving due consideration to candidates referred by those institutions.

“Economic development is strengthened when companies choose to invest in our community. The ITT Goulds Pumps expansion into Memphis represents exactly the kind of growth we want to see across Shelby County: new capital investment, quality jobs, confidence in our workforce and our ability to support industry. EDGE is proud to work alongside TNECD, the City of Memphis, Shelby County and our economic development partners to help create the conditions for companies to grow, invest, and succeed here,” said EDGE President and CEO Dr. Joann Massey.

The Economic Development Finance Committee approved three Small Business Loans supporting a combined $584,000 in neighborhood improvements. Since its inception in 2014, the program has supported 134 businesses across 18 ZIP codes.

Dr. Dena Granger, founder and owner of The Chiro Place, PLLC, received a $22,000 loan toward improvements at 1139 Brownlee Road. The Black woman-owned chiropractic and wellness practice serves Memphis, Bartlett, and Collierville. Funds will support roof, HVAC, window, awning, parking, flooring, and bathroom work, along with ADA-compliant accessibility modifications.

John Daniel, co-founder of Bluff City Athletics, LLC dba Bluff City Pickleball, received a $25,000 loan toward an estimated $500,000 conversion of an existing building at 940 Early Maxwell Boulevard into a recreational facility with eight pickleball courts.

Tanya Johnson, owner of Memphis Best Meats, Inc., received a $25,000 loan toward improvements at 2653 James Road. The neighborhood meat market serves the Frayser community with meat and grocery essentials. Funds will support roof repairs, exterior façade improvements, and interior renovations.

“Our Small Business Loan program is one of the most direct ways EDGE invests in the neighborhoods that make Memphis home. A wellness practice on Brownlee Road, a new recreational destination on Early Maxwell Boulevard, and a neighborhood market serving Frayser are each anchoring their communities, creating access and bringing new energy to the corridors around them. When local business owners invest in their buildings, the entire neighborhood benefits, and we’re proud to help make that possible,” said Massey.

The Port Commission also approved a new lease with Enterprise Products Partners, L.P., replacing an agreement originally dated August 2006 that terminated July 31, 2026.