In November, EDGE approved a 10-year Fast Track PILOT for International Distributors USA (IDUSA) that resulted in bringing 40 new full-time jobs to Memphis. Previously based in Mississippi, IDUSA, an international supplier of auto parts distributed under the name Premium Guard, will spend nearly $6.5 million at the Memphis facility and generate nearly $2 million in local total tax revenues across the lifetime of the PILOT.
The EDGE Fast Track PILOT enables IDUSA to move from its current 165,000 SF distribution facility in Olive Branch, MS to a 510,310 SF facility located at 4770 Hickory Hill Road in Southeast Memphis. The facility will increase logistics efficiency and allow for IDUSA’s future growth.
Under the new Fast Track PILOT program, applicants seeking office and industrial space can receive a 75 percent abatement on property taxes for up to ten years if the applicant meets specified program requirements, such as a new job’s minimum and at least $1 million capital investment.