Please ensure Javascript is enabled for purposes of website accessibility

At the June EDGE Board meeting, the Board approved two Payments-in-Lieu-of-Taxes (PILOT) for PMC Biogenix, Inc. and DMN Westinghouse at today’s meeting. Staff expects approximately $6.2 million in local tax revenues to be received from the combined PILOTs.

Al Bright, EDGE Board Chairman said, “Investments by these companies in our community demonstrate the manufacturing industry’s confidence in Memphis’ manufacturing sector, again proving our city has a strong workforce, strategic location, and business-friendly environment.”

Local chemical manufacturer PMC Biogenix, Inc. has employed Memphians since its founding in 2008. The company received a ten-year Jobs PILOT to create 35 net new jobs with an average base salary of $70,000, as well as invest $8 million in new real property and $39 million in new personal property in the City of Memphis. The total project investments include $8 million to expand its facility at 1248 Warford Street and $39.5 million for new personal property on the site. This 7.6 acre parcel has not previously been part of the PILOT benefit granted to PMC Biogenix, Inc.

PMC Biogenix, Inc. is a chemical manufacturing company that also develops and markets specialty chemicals. Oleochemicals produced and used by the plant in Memphis are derived from natural, renewable sources and are not hazardous under environmental laws and regulations. Staff projects $4.5 million in total local tax revenues will be received during the term of this PILOT.

“As Memphis’ dynamic advanced manufacturing sector grows, companies from surrounding areas are choosing to relocate to Memphis to take advantage of the skilled diverse work force and opportunities. We are excited to be a part of helping Memphis/Shelby County grow,” said Dr. Joann Massey, EDGE Vice President of Operations.

DMN Westinghouse received a ten-year Fast Track PILOT to relocate from West Memphis, Ark., to Memphis and create 40 net new jobs with an average wage of $61,000. The company plans to invest $13.7 million in Memphis with their new custom rotary valve distribution facility on Presidents Island, 2500 Channel Ave. Community Reinvestment Credit will be awarded.

DMN Westinghouse designs and manufactures rotary valves, diverter valves, and other related components for the dry bulk solids handling industry. Staff projects $1.7 million in total local tax revenues to be received during the PILOT term.

EDGE’s strong relationships with its business partners accelerate economic growth in Memphis, benefiting the entire community.

The International Port of Memphis manages Presidents Island where many of these industrial companies, like DMN Westinghouse, contribute to West Tennessee’s economy. The Port Commission, the governing body that represents the Port, also met prior to the EDGE Board meeting. Gerre Currie, former Memphis City Council member and the current Community Development Officer at Financial Federal, was named as Port Commission Chairwoman. The Port also approved a Port Security Grant project that was presented by EDGE Director of Research Adrienne Johnson.

The Port of Memphis was awarded an $851,962 grant from FEMA’s Port Security Grant program in November 2022 to upgrade surveillance systems on Port managed properties. The Port is required to match 25% of that amount, totaling $212,923. The funds will be used to upgrade 17 surveillance cameras located throughout Presidents Island, as well as add two cameras and install an updated audio/visual teleconferencing system in the Port’s main office.

EDGE was symbolically added to the Bright Futures City Hall, located inside of the Junior Achievement’s Biz Town with a ribbon cutting by its namesake, Ruby Bright, Immediate Past President of the Memphis Women’s Foundation and EDGE Board Chairman, Al Bright. They were accompanied by Dr. Joann Massey, EDGE VP of Operations, and staff. “Welcome to Biz Town EDGE!” said, Leigh Mansberg, Executive Director of Junior Achievement.