When the William R. Moore College of Technology (Moore Tech) and the Greater Memphis Automobile Dealers Association needed help to launch a new school to train auto technicians, they turned to EDGE.
The project involves redeveloping a vacant and blighted former car dealership at 2785 S. Mendenhall. At full capacity, the school will support 90 students. Moore Tech will invest $3.4 million to acquire and renovate the existing structures and install training equipment while creating four jobs with an average annual wage of almost $57,000.
Assistance through an EDGE Community Builder PILOT was needed to lower operating costs and help make the project sustainable.
Founded in 1909, Moore Tech is a private non-profit college operated and governed by a board of trustees. The mission of Moore Tech is to provide the student with the training and skills necessary to become successful in business and industry. It is the goal of the college to provide students with a working knowledge of the skills needed to enter employment in the program area of their choice.
Power Center Community Development Corporation supports the project. EDGE Staff projects $456,929 in local total tax revenues to be received during the PILOT term and a $656,647 benefit to Moore Tech.
For more information about this project, please visit the EDGE Project Database.