Pandrol USA is moving its North American Headquarters to Memphis from New Jersey. The board approved a 15-year Community Builder PILOT last year to encourage the move.
Today, the board approved an amendment to the company’s PILOT to reflect more jobs and more investment:
- An increase in new jobs from 73 to 82
- An increase in average wage from $49,453 to $59,068
- An increase in total capital investment from $9,291,200 to $12,891,200
Per the amendment, the PILOT term would not change. The benefit to the applicant would increase by $800,000 and the benefit to the community would increase by more than $1 million. MWBE spending would increase by more than $600,000.
