The Economic Development Growth Engine (EDGE) Board on Wednesday, September 17 approved the election of officers and authorized a key sublease agreement during its September board meeting. One small business loan was also granted.
The board elected new officers for EDGE, the Industrial Development Board (IDB), and the Memphis and Shelby County Port Commission. The following leaders will serve as officers: Gerre Currie, Vice Chairman; Dr. Florence Jones, Secretary; and Jatin Kumar, Treasurer.
For the Port Commission, Mark Halperin was elected Vice Chairman, with Dr. Jones and Kumar serving as Secretary and Treasurer, respectively. Vijay Kalaga was also reappointed Chair by the EDGE Board Chairman.
In addition, the board approved a resolution on behalf of EDGE and the Port Commission authorizing a sublease of property in Pidgeon Industrial Park. The 552-acre property, currently under a 21-year lease with CTC Properties, LLC, will be subleased to Seven States Power Corporation. CTC will remain the primary tenant under the agreement.
“Today’s actions reflect the strength of our leadership and the momentum we’re building across Memphis and Shelby County,” said EDGE President and CEO Dr. Joann Massey. “By electing dedicated officers and advancing projects like the Pidgeon Industrial Park sublease, we’re ensuring strong governance and positioning our community for continued growth and opportunity.”
The Economic Development Finance Committee also met and approved one Small Business Loan. South Memphis Grocery LLC, a family-owned convenience store, received a $25,000 ICED Loan for improvements at 9 West Mallory Ave. The business will use the funds to make critical exterior improvements, including new paint and repairs to damaged siding. They will also use these funds to remove a boarded-up garage opening and infill the space with matching brickwork to create a uniform exterior.