Key industries powering Memphis’ economy

Memphis is known for its resilience, resourcefulness, and strategic location. But the strength of our economy is anchored in a set of industries that continue to drive job creation, capital investment, and long-term opportunity across Memphis and Shelby County. These sectors are interconnected, reinforcing one another and positioning Memphis as a competitive, forward-looking region.

Logistics and distribution

Memphis’ logistics ecosystem is one of its defining advantages. With access to major interstate corridors, five Class I railroads, the Mississippi River, and Memphis International Airport, home to FedEx’s global hub, the region serves as a critical distribution node for North America.

The International Port of Memphis, powered by EDGE, plays a central role in this system. Fostering thousands of direct and indirect jobs, the Port anchors industrial development along Presidents Island and surrounding areas. Recent approvals to expand barge and transloading operations along McKellar Lake demonstrate continued demand for multimodal infrastructure and highlight the importance of thoughtful asset stewardship.

Logistics supports manufacturing, retail, energy, and agriculture. In Memphis, it is the connective tissue of the regional economy.

Advanced manufacturing

Manufacturing remains one of the most significant pillars of Memphis’ economy. Companies here produce everything from HVAC systems and medical devices to power transformers and consumer goods. These operations provide quality jobs, strong wages, and stable career pathways.

Through strategic public-private partnerships led by EDGE and regional partners, Hyosung HICO has continued expanding its U.S. manufacturing headquarters in Memphis, investing more than $300 million since 2019 and significantly increasing production capacity. 

Similarly, AAON, Inc. committed to a $238.5 million expansion that will create hundreds of jobs over the coming years, reinforcing Memphis’ role as a hub for advanced HVAC manufacturing. The company’s decision was underpinned by a 15-year Jobs PILOT authorized by EDGE, illustrating how strategic incentive tools can help secure long-term private investment.

These investments strengthen supplier networks, workforce pipelines, and long-term competitiveness.

Healthcare and biosciences

Healthcare is both a major employer and an innovation engine in Memphis. Anchored by world-class institutions and research organizations, the sector supports clinical care, medical device development, and life sciences research.

The presence of global healthcare institutions, combined with medical manufacturing and distribution operations, creates a powerful intersection between health and industry. This ecosystem provides jobs and fosters innovation, attracting researchers, entrepreneurs, and investment to the region.

As healthcare evolves, particularly in areas like biotechnology and medical technology, Memphis is positioned to expand its influence through strategic partnerships and workforce development.

Energy and emerging technology

Energy infrastructure and emerging technologies are adding a new dimension to Memphis’ industrial base. Investments tied to energy storage, advanced power infrastructure, and technology-driven operations reflect a broader shift toward grid resilience and next-generation capacity.

Recent land leases approved by EDGE at the Port of Memphis further illustrate how the region’s industrial assets are evolving to meet emerging economic demands. The Port leased more than 500 acres in Pidgeon Industrial Park to CTC Property to support energy infrastructure connected to a nearby high-performance computing facility. In addition, a lease with Cardinal Energy Storage established a battery storage site adjacent to the development, designed to connect to TVA’s 500kV transmission line and supply power to the grid during peak demand periods. 

Through strategic partnerships, EDGE and the Port Commission are positioning Memphis as a leader in data-intensive industries and enhancing the region’s energy reliability and competitiveness.

A diverse foundation for growth

What sets Memphis apart is not reliance on a single industry but the strength of a diversified portfolio. Manufacturing facilitates logistics, logistics enables healthcare and retail distribution, and energy infrastructure underpins them all.

This diversification creates resilience, allowing Memphis to adapt to changing economic conditions while maintaining momentum across sectors.

As Memphis and Shelby County continue to invest in infrastructure, workforce alignment, and coordinated partnerships, these key sectors will remain central to the region’s growth story. Together, they power an economy rooted in place, driven by people, and positioned for long-term opportunity.