FY2020 will forever be defined by the COVID-19 pandemic, which occurred in the third and fourth quarters. EDGE created the Neighborhood Emergency Economic Development (NEED) Grant to provide relief to small neighborhood-serving businesses located in Memphis’ most vulnerable neighborhoods.
The year also saw big new investment in our community by Hyosung, the impact of an NBC television series filmed in Memphis and Shelby County, neighborhood revitalization and good-paying job growth through local company expansion and Inner City Economic Development (ICED) Loans and the potential for significant community reinvestment with a newly created TIF.
In FY2020, EDGE Approved Projects Committed To:
- 976 Jobs with an Average Annual Salary of $48,000
- $81 Million Commitment to Spend with Women & Minority Owned Business
- $826 Million Capital Investment in Shelby County
- $107 Million in Projected Tax Revenue