At the August 20, 2025 joint meeting of the EDGE Board and the International Port of Memphis Board, leaders advanced several projects that will fuel investment, create jobs, and enhance Memphis’s competitiveness in logistics, technology, and energy.
From clean energy infrastructure to logistics growth and neighborhood revitalization, the approvals reflect a shared commitment to driving economic progress across Memphis and Shelby County.
Lightning Bug Energy Storage lease approved
The Boards approved a 25-year lease with Lightning Bug Energy Storage, an affiliate of Swift Current Energy, to develop a large-scale battery storage facility at Pidgeon Industrial Park. The $300 million project will utilize 10 acres for battery housing containers connected directly to TVA’s electrical grid, with the option to expand to 71 acres in the future. This facility will store power during low-demand times and release it when demand is high, improving grid stability while supporting Tennessee’s growing energy needs.
Construction is expected to generate 150 jobs and begin ramping up within three to five years, with operations starting no earlier than 2031. Swift Current Energy brings a strong track record of clean energy projects, positioning Memphis at the forefront of renewable infrastructure development.
BTS Towers Cell Tower lease
The Boards also approved a lease with BTS Towers for construction of a new 199-foot cell tower on .083 acres of Port-managed land. The agreement includes a five-year term with five five-year options, annual rent starting at $21,600, and incremental increases for additional tower users. In addition to enhancing communications capacity, the tower agreement allows the Port to use the structure for security cameras – improving both infrastructure and safety.
Mallory Alexander & Beeline Jobs PILOT
In support of Memphis’s logistics strength, the Boards approved a five-year Jobs PILOT for Mallory Alexander International Logistics and Beeline Import and Services. The $11.1 million investment will automate Beeline’s Memphis distribution center, creating at least 35 new jobs with an average wage of nearly $50,000.
Mallory Alexander, a Memphis-based logistics leader since 1925, will partner with Beeline, a German-founded company expanding its U.S. distribution capabilities. This project will modernize supply chain operations while further establishing Memphis as a hub for international trade.
Poplar Corridor TIF prepayment
The Poplar Corridor Business District Association received approval to move forward with prepayment of its tax increment financing (TIF) loan, tied to multiple mixed-use and office developments in East Memphis. This investment will enhance the corridor’s economy, aesthetics, and overall quality of life while unlocking new opportunities for growth in one of the city’s busiest commercial areas.
Charles River Laboratories PILOT amendment
Finally, the Boards approved an amended Jobs PILOT for Charles River Laboratories, successor to Cognate BioServices. The company will invest $70 million in its Memphis facilities focused on advanced cell and gene therapy, while adjusting its commitments to 25 jobs at an average wage of $79,000. Charles River’s Memphis operations are a critical hub for next-generation medical research and drug manufacturing, supporting clinical advancements that can bring lifesaving treatments to market.
The August meeting underscored the region’s growing role in energy, logistics, bioscience, and real estate development. By leveraging strategic assets and fostering innovation, EDGE and the Port of Memphis continue to power economic growth, strengthen infrastructure, and position Memphis as a leader in global trade and industry.