Al Bright, EDGE Board Chairman said, “Investments by these companies in our community demonstrate the manufacturing industry’s confidence in Memphis’ manufacturing sector, again proving our city has a strong workforce, strategic location, and business-friendly environment.”

Local chemical manufacturer PMC Biogenix, Inc. has employed Memphians since its founding in 2008. The company received a ten-year Jobs PILOT to create 35 net new jobs with an average base salary of $70,000, as well as invest $8 million in new real property and $39 million in new personal property in the City of Memphis. The total project investments include $8 million to expand its facility at 1248 Warford Street and $39.5 million for new personal property on the site. This 7.6 acre parcel has not previously been part of the PILOT benefit granted to PMC Biogenix, Inc.

PMC Biogenix, Inc. is a chemical manufacturing company that also develops and markets specialty chemicals. Oleochemicals produced and used by the plant in Memphis are derived from natural, renewable sources and are not hazardous under environmental laws and regulations. Staff projects $4.5 million in total local tax revenues will be received during the term of this PILOT.

“As Memphis’ dynamic advanced manufacturing sector grows, companies from surrounding areas are choosing to relocate to Memphis to take advantage of the skilled diverse work force and opportunities. We are excited to be a part of helping Memphis/Shelby County grow,” said Dr. Joann Massey, EDGE Vice President of Operations.

DMN Westinghouse received a ten-year Fast Track PILOT to relocate from West Memphis, Ark., to Memphis and create 40 net new jobs with an average wage of $61,000. The company plans to invest $13.7 million in Memphis with their new custom rotary valve distribution facility on Presidents Island, 2500 Channel Ave. Community Reinvestment Credit will be awarded.

DMN Westinghouse designs and manufactures rotary valves, diverter valves, and other related components for the dry bulk solids handling industry. Staff projects $1.7 million in total local tax revenues to be received during the PILOT term.

EDGE’s strong relationships with its business partners accelerate economic growth in Memphis, benefiting the entire community.

The International Port of Memphis manages Presidents Island where many of these industrial companies, like DMN Westinghouse, contribute to West Tennessee’s economy. The Port Commission, the governing body that represents the Port, also met prior to the EDGE Board meeting. Gerre Currie, former Memphis City Council member and the current Community Development Officer at Financial Federal, was named as Port Commission Chairwoman. The Port also approved a Port Security Grant project that was presented by EDGE Director of Research Adrienne Johnson.

The Port of Memphis was awarded an $851,962 grant from FEMA’s Port Security Grant program in November 2022 to upgrade surveillance systems on Port managed properties. The Port is required to match 25% of that amount, totaling $212,923. The funds will be used to upgrade 17 surveillance cameras located throughout Presidents Island, as well as add two cameras and install an updated audio/visual teleconferencing system in the Port’s main office.

EDGE was symbolically added to the Bright Futures City Hall, located inside of the Junior Achievement’s Biz Town with a ribbon cutting by its namesake, Ruby Bright, Immediate Past President of the Memphis Women’s Foundation and EDGE Board Chairman, Al Bright. They were accompanied by Dr. Joann Massey, EDGE VP of Operations, and staff. “Welcome to Biz Town EDGE!” said, Leigh Mansberg, Executive Director of Junior Achievement.

The post Advanced Manufacturers Select Memphis to Expand Local Workforce first appeared on Economic Development Growth Engine.

Massey was joined at the event by Pedro Antonio Antunes, CEO of MSS Steel Tubes USA; Dan Shugar, CEO and founder of Nextracker; and Regan Farr, co-founder and CEO of Silicon Ranch, all partners in manufacturing major steel components used in solar tracking technology.

EDGE provided a Payment-in-Lieu-of-Taxes (PILOT) as an incentive to encourage the Portugal-based MSS Steel to choose Memphis as its first U.S. location. The company sought to reshore international jobs domestically, creating family-sustaining jobs in Memphis by leveraging the renewable energy industry currently thriving in Tennessee.

City of Memphis Mayor Jim Strickland stated, “We are thrilled that MSS Steel has chosen Memphis to reshore over 129 advanced manufacturing jobs and invest in our community through job training and employment opportunities for our citizens. The future of advanced manufacturing and the renewable energy industries is taking off right here in Memphis.”

Shelby County Mayor Lee Harris added, “Shelby County has led in the transportation, logistics and distribution hub for America for many years. We are proud that MSS Steel sees the potential for our community to lead in advanced manufacturing and is demonstrating it through investment and providing workforce opportunities for our citizens.”

MSS Steel will partner with the American Job Center and Workforce Mid-South to revitalize a distressed area of the city. Through training and apprenticeships, the unemployed and underemployed will have the necessary tools to participate in MSS Steel’s growth and success. Memphis’ existing infrastructure was a key component in attracting companies like MSS Steel to produce their products here, rather than only shipping those products through the city’s market.

MSS Steel Tubes USA is a Nextracker-dedicated line for major steel components used in solar tracking technology deployed on utility-scale solar plants in the U.S. and abroad. MSS Steel Tubes, owned by Portuguese Metalogalva SA and Brazilian Soufer Industrial, formed MSS Steel Tubes USA, which will invest $6.8 million to turn an existing building in southeast Memphis into the new facility.

The company has committed to creating 130 new jobs with an average wage of $61,846.

The post MSS Steel Tubes USA Celebrates First U.S. Based Facility with Ribbon Cutting first appeared on Economic Development Growth Engine.

“Bringing family sustainable jobs to Super District 8 has always been a priority during my time with City Council. Richardson Oilseed paying the wages of $76,000 is more of what we want to see,” said Memphis City Council Chairman Martavius Jones.

The investment includes $100 million in new construction and site improvements and $120 million in new personal property.

Shelby County Commission Chairman Mickell Lowery sees Richardson Oilseed’s expansion as a win for Memphis. “I am happy to see the $220 million in investment in the Richardson Oilseed facility and especially over 100 quality jobs for our community,” he said. “I hope others will see that District 8 is investable.”

Formerly Conagra Foods, Richardson Oilseed acquired its current location, along with the Wesson brand, in 2019 to expand their refining, processing, and packaging operations in the United States. The company considered locations in Kansas, Nebraska, and Missouri. Encouraged by EDGE incentives, the company chose Memphis. EDGE’s PILOT will allow Richardson to upgrade and replace the old oil refinery and processing equipment and remain in Memphis.

“We were excited when Richardson Oil contacted our office to discuss their expansion,” said Trey McKnight, EDGE Senior Economic Development Specialist. “Our next step was to include our partners, like the Greater Memphis Chamber and others, to bring everyone to the table, working together.”

The property to be occupied currently produces $89,203 in City of Memphis and Shelby County property taxes a year. Estimated annual property taxes will increase to an average of $718,814 during the PILOT term and $2,876,254 after PILOT termination. Staff projects $27 million in total local tax revenues to be received during the PILOT term. Richardson Oilseed is required to spend $42 million with City of Memphis and Shelby County certified minority and women business enterprises (MWBEs).

The EDGE board approved an additional expansion project—the Link on Broad Avenue apartments will gain additional buildings to support redevelopment of a blighted property.  Grubb Management, LLC, a North Carolina corporation, and LPI Memphis, a Tennessee corporation, received a 15-year Residential PILOT to construct approximately 200 apartment units and ancillary commercial space at the intersection of Broad Avenue and Bingham Street. The mix of uses is projected to be 53 studio apartments, 114 one-bedroom units, 33 two-bedroom units, along with 13,750 square feet of retail or other active uses facing Broad Avenue, and 63,000 square feet of self-storage in the rear of the remaining warehouse.

Projects like Link on Broad Avenue have transformed the area, adding value and density to the once empty lots.

“It’s hard to believe the Broad Avenue MemFix event was 13 years ago, with demonstration bike lanes and pop-up shops in buildings with dirt floors across from 15 acres of old, obsolete warehouses,” said John Lawrence, Vice President of Economic Development at EDGE. “Today there’s barely a vacancy anywhere on the historic south side of the street. Thanks to a creative development team, the north side will soon be a complete mixed-use community of homes and commercial space.”

This nearly $68 million project is supported by the Historic Broad Avenue Arts Alliance and complies with the City’s comprehensive plan, the Memphis 3.0 Anchor Strategy, to build population density. Staff projects almost $16 million in total local tax revenues to be received during the PILOT term and requires $14 million spending with City of Memphis or Shelby County certified minority and women owned businesses (MWBEs).

The Economic Development Finance Committee also met and approved three Inner City Economic Development (ICED) Loans, small forgivable loans to spark revitalization in distressed neighborhoods. Glennell Smith, owner of A Taste of Glenny in Whitehaven, received a $25,000 ICED Loan for building improvements to her restaurant on 972 East Brooks Road. Total project costs qualified for the ICED program are $62,501 and is supported by Greater Whitehaven Economic Redevelopment Corporation.

Whendy Merryman and Lori Brown of Summer Ave. Art & Clay received a $25,000 Inner City Economic Development (ICED) Loan to help renovate 3221 Summer, replace the building’s roof, and expand studio space in the facility. Total project costs qualified for the ICED program are $47,350. Bianca Price, owner of natural hair salon The Locing Barber on 6050 Knight Arnold, received a $15,714 ICED Loan for building renovations. Total project costs qualified for the ICED program are $23,572 and is supported by Power Center Community Development Corporation.

“Today’s meetings were a good example of EDGE’s toolkit that our team uses to spur economic growth from neighborhood businesses to large corporate expansions across Memphis/Shelby County,” said EDGE Vice President of Operations Joann Massey. “Our strategic plan going forward includes raising visibility of our activity and the data-based outcomes.”

The post EDGE PILOTs for Richardson Oilseed and Link on Broad Expansion Drive Economic Growth in Memphis first appeared on Economic Development Growth Engine.

Joann Massey has had proven outcome-based success in both the public and private sector including economic, workforce and community development, financial services, real estate and diversity, equity and inclusion (DEI) work

“Joann brings not only extensive experience to our team but an understanding of Memphis that is critical to growing and accelerating economic development partnerships in Memphis and Shelby County. She will be working in tandem with Randy Richardson, our Interim President, our partners, and elected officials to assess opportunities to hone economic development incentives across our community”, noted Al Bright, EDGE Board Chairman. The EDGE Vice President of Operations is responsible for oversight of operations including internal and external affairs as well as leading the organization’s community engagement and legislative affairs. “This position is truly focused on ensuring that we are working collaboratively at all levels, and we are excited to have Joann as part of the EDGE leadership team.”

Massey most recently served as the City of Memphis’ Director of Business Diversity & Compliance and Senior Vice President for Operation Hope’s national initiative One Million Black Businesses. Prior to joining the City of Memphis, Joann was the first Project Manager and Compliance Officer for the Memphis/Shelby County Office of Economic Development.  Joann also served as a member of former Tennessee Governor Bill Haslam’s administration, working with the Tennessee Department of Economic and Community Development as Lead Business Development Consultant covering Shelby, Tipton, Lauderdale and Fayette counties.

“Shelby County has a unique opportunity to create strong collaborative networks across all of our municipalities with the new leadership of EDGE, the Chamber and other economic development agencies that will benefit all citizens of Shelby County. Joann’s deep relationships throughout Shelby County and her experience in successfully scoring wins for West Tennessee makes her ideally suited to take on this role.” said, Harold Byrd, President Shelby County Chamber Alliance “As stronger economic, workforce and community drivers like Blue Oval come around, Shelby County must be ready to operate as a coalition to take advantage of these investments.”

During Massey’s public service experience as Compliance Officer for the Memphis/Shelby County Office of Economic Development she established the compliance procedures for the payment in-lieu of taxes (PILOT) program still being used today. At the TN Dept of Economic & Community Development (TNECD) she collaborated with community partners, such as the Greater Memphis Chamber, TVA, and MLGW, to secure large, high-profile projects, namely the Nike expansion in Frayser.

Randy Richardson, EDGE’s Interim President who also serves as the Executive Director of the Memphis Port Commission added “This is an exciting opportunity for EDGE. I am looking forward to working with Joann and the Board to grow our partnerships and serve an increased number of businesses. The addition of Joann to the leadership team adds capacity to the organization and allows us to focus on attracting and growing business while working collaboratively to promote the Port not only as a site for future development but also as an asset for new and existing businesses in the Region.”

Carlos Fifer, owner of Fifer & Associates, LLC. a general contractor who completed the work on the new Fire station in Whitehaven, stated, “Ms. Massey was critical in assisting my company when working on the Whitehaven project. I know her creativity in developing strategies will be a huge asset and I’m looking forward to seeing how EDGE continues to support small and minority business development.” Mr. Fifer is also Chairman of the Memphis Minority Contractors Association (MAMCA) Board of Directors.

“I am looking forward to working with EDGE and our community, in particular working to identify innovative partnerships.” says, Massey. “One of the greatest areas of growth we have is working to promote EDGE’s Community Builder and ICED programs. EDGE’s incentives provide a continuum of economic development tools from small business to large corporate partnerships, each one supports and strengthens growth in different ways. We have the opportunity to truly transform how we work together to attract and grow business in our community.”

Massey holds an MBA from Benedictine University where she graduated summa cum laude. She has certifications in economic development from Harvard University and the International Economic Development Council (IEDC). Massey is also a member of Alpha Kappa Alpha Sorority, Inc. Beta Epsilon Omega Chapter, River City (TN) Chapter of The Links Incorporated and the Junior League of Memphis. She serves on the Board of Directors for New Ballet Ensemble.

The post Joann Massey Joins EDGE as Vice-President of Operations first appeared on Economic Development Growth Engine.

MSS Steel will create 130 new jobs with an average wage of $61,846, including benefits, and plans to invest $6.8 million in the community. The company considered several cities for its U.S. location before making the decision to move to Memphis.

The existing building requires $500,000 in renovations on 94,000 square feet of the present 632,060-square-foot facility. EDGE estimates $6,500,000 to be generated in local tax revenue for the duration of the PILOT.

When international and domestic distribution companies shop for relocation sites, Memphis is a stand-out candidate based on the city’s logistics and infrastructure. Such was the case for Belnick LLC, an on-line furniture supplier with an exceptional supply chain. The company, doing business as Ubique Group, operates four United States distribution centers and has outgrown its largest facility in Olive Branch, Miss. Ubique Group considered expanding in Georgia and Ohio before deciding to relocate their Mississippi site to a larger facility in Memphis to accommodate substantial growth.

EDGE granted Ubique Group a $14 million 10-year PILOT to encourage relocation to a new site on the corner of Holmes and Malone Roads in Memphis. The company plans to create 152 new jobs with an average wage of $43,700. Estimated annual property taxes will average $380,000 during the PILOT term and $1.3 million after. Staff projects $11 million in total local tax revenues to be received during the PILOT term.

West Fraser, Inc. is a Canadian-based diversified wood products company with more than 60 facilities in Canada, the U.S., and the United Kingdom—and headquarters its North American operations in Germantown. As the company has expanded to provide support functions to both U.S. domestic operations and its global personnel, relocation is necessary.

“When West Fraser, Inc. decided to expand their United States headquarters, the company made the decision to stay in Shelby County based in part on EDGE’s approval of this PILOT application,” said Max Aldrich, Chief Operating Officer with Commercial Advisors. “West Fraser will be able to create new, high-paying jobs and looks forward to continuing their investment in Memphis.”

The EDGE Board granted West Fraser, Inc. a $5 million 10-year PILOT to encourage the company to move their headquarters to 57 Germantown Court in Cordova, creating 80 new jobs with an average wage of $80,000.

The post EDGE Awarded PILOTs Attract International Business first appeared on Economic Development Growth Engine.

The Allen site is a critical component of the Port master redevelopment plan. Initially implemented in 2019, this plan includes major infrastructure upgrades to Presidents Island and a short, middle, and long-range plan to help maximize the impact of 2,300 acres of under-developed industrial land in the adjacent Frank C. Pidgeon Industrial Park.

“This site, once fully remediated, will offer a one-of-a-kind economic development opportunity for businesses wanting to access the nation’s 8th largest inland port.” –   Al Bright, EDGE, Board Chair

Located on 500 acres adjacent to McKellar Lake and within minutes of downtown Memphis, the International Port of Memphis is recognized globally for its multi-modal distribution and logistics capabilities.

“The International Port of Memphis offers exceptional rail, road, and water connectivity. The Allen site will offer one of the largest economic development opportunities this area has seen in decades.” – Randy Richardson, Executive Director, Memphis & Shelby County Port Commission

The Port, which includes Presidents Island and Pidgeon Industrial Park, is the second largest inland port on the shallow draft portion of the Mississippi River, and the 8th largest inland port in the United States. Encompassing both sides of the Mississippi River from river Mile 725 to Mile 740, there are 68 water fronted facilities within its 15-mile reach.

Centrally located at one of the few points in the U.S. where cargo can cross the Mississippi River by rail and truck, cargo arriving at the Port of Memphis can reach more major markets overnight by truck than from any other city in the U.S.

In 2022, the Port had a $6.25B economic impact, creating 5,361 direct jobs and 8,494 indirect jobs, and generated over $71M in annual City and County tax revenue.

The post TVA and Port of Memphis Clearing Way for Progress first appeared on Economic Development Growth Engine.

The program allows commercial property owners to obtain long-term financing from private capital providers for energy efficiency and resiliency improvements. This helps lower costs while also reducing development impact, energy consumption, and public infrastructure. Acting as a privately financed economic development tool, C-PACER does not require a reduction of taxes, grants, or other public funding. This program provides incentives for decreases in water and energy consumption, production of clean renewable energy, improvement in safe drinking water, and overall resiliency improvements, all of which have a lasting impact on both the environment and future development. Investing in conservation improvements up front can likely reduce operating expenses over time.

Improvement projects must exceed $1 million and spend at least 25% of costs with City of Memphis Certified Minority/Women-owned Business Enterprises (MWBEs). The project must also meet one of the defining goals of the program such as decreasing energy consumption, producing renewable energy, decreasing water consumption, and improving safe drinking water. Construction can also include overall resiliency improvements in terms of wastewater reduction, flood mitigation and stormwater management, wind resistance, or energy storage. Projects must conform to the International Conservation Code and/or seismic requirements in the International Building Code.

Currently, most C-PACER inquiries at EDGE are for new construction projects, including ground-up apartments, retail centers, industrial parks, or mix-use communities that excel in energy conservation amenities. However nationally, the program has seen a number of adaptive re-use construction projects.  For more information on the C-PACER program, contact EDGE at info@EDGEMem.com.

The post EDGE Launches First C-PACER Project first appeared on Economic Development Growth Engine.

In an announcement on this new venture, Dr. Mickey wrote, “Ours is a story of two African-American female led businesses that are harnessing the strengths of each other’s product to propel forward in our respective industries. I think Nearest Green would be proud of our collaboration!”

Nathan “Nearest” Green is credited with perfecting the Lincoln County Process, the defining taste of Tennessee whiskey.

The EDGE Economic Development Finance Committee approved the $15,000 ICED Loan request for Mickey’s Popcorn to help renovate the future 3127 Stonebrook Circle location and prepare the space for a commercial snack food manufacturing business. Total qualified project costs are $36,500, not including the $310,000 building purchase. The loan will help the Mickeys renovate the 4,500 square foot building constructed in 1968 by bringing it up to food manufacturing health codes, sealing the concrete floor, installing plumbing upgrades, and improving interior circulation, as well as installing an exterior parking area and an upgraded entrance.

With the new space and estimated boost in production, the Mickeys are working with distributors for product placement, entertaining military bases, grocery stores, and even airports as potential vendors.

The post Local Minority-Owned Family Business Awarded ICED Loan for Expansion first appeared on Economic Development Growth Engine.

Micro-fulfillment, another aspect of the growing local medical device field, is a strategy that places small-scale warehouse facilities in densely populated urban locations closer to the consumer to improve delivery times. EDGE approved a PILOT for Walgreens to create its Memphis-based micro-fulfillment facility that would serve as a prescription drug warehouse with state-of-the-art technology. This innovative operational model should lower costs to fill customer orders—Walgreens anticipates expanding their customer delivery and pickup services with this facility.

The post EDGE Continues to Spur Growth in Medical Device & Advanced Manufacturing Sectors first appeared on Economic Development Growth Engine.

Mickey’s Popcorn is a family owned and operated gourmet small-batch popcorn company that has outgrown its former church rental space for a larger storefront that can accommodate a potential popcorn production of 6,000 bags per week. Dr. Penny Mickey and Kenneth Mickey, owners and co-founders of the eponymous Mickey’s Popcorn, added a contract to provide popcorn for guests at four Hilton hotels. Recently the company established a licensing partnership with Uncle Nearest Premium Whiskey to launch their latest popcorn flavor, Tennessee Whiskey Caramel, the first of its kind in the market just in time for the holiday season.

The EDGE Economic Development Finance Committee approved the $15,000 ICED Loan request for Mickey’s Popcorn to help renovate the future 3127 Stonebrook Circle location and prepare the space for a commercial snack food manufacturing business. Total qualified project costs are $36,500, not including the $310,000 building purchase. The loan will help the Mickeys renovate the 4,500 square foot building constructed in 1968 by bringing it up to food manufacturing health codes, sealing the concrete floor, installing plumbing upgrades, and improving interior circulation as well as installing an exterior parking area and an upgraded entrance.

Duriya Caldwell founded The Black Pearl Nail Academy, Tennessee’s first full-service specialty manicure school, in 2018. The Finance Committee approved a $25,000 ICED Loan to help complete qualified improvements at the 938 E Brooks Road location. Project costs are estimated to be $175,303 for Ms. Caldwell to renovate the 11,675 square foot building constructed in 1970 and bring it up to trade school codes. Located in Whitehaven with a target demographic of women aged 17-60, the Academy plans to serve Shelby County, West Memphis, Southaven, Horn Lake, and Olive Branch. Ms. Caldwell will provide flexible monthly payments plans and partnerships with federally funded programs such as SNAP to make the program affordable for the public. This project is supported by the Greater Whitehaven Economic Redevelopment Corporation.

Leslie Bridgeforth, owner of Lot-A-Burger, #3 LLC, also received a $20,000 (ICED) Loan from the Finance Committee to help complete $49,750 of qualified improvements at her 2260 S 3rd Street location. The ICED Loan will support renovations of the 804 square foot space constructed in 1956. Construction will include updates to the façade as well as structural, roof, HVAC, and building interior repairs. This project is supported by the South Memphis Renewal CDC.

Funding for the ICED Loan program is generated through the City of Memphis PILOT personal property fees. The 2021 PILOT Portfolio Economic Impact Report revealed PILOT recipients consistently outperformed in job commitments, wages promised, and capital investments achieved—which directly supports and funds smaller businesses seeking assistance with ICED Loans.

The EDGE Board also met and was presented with the 2021 EDGE PILOT Impact Report. This study showed that of the 24,155 committed direct jobs by active PILOTS, these companies achieved 31,129 total jobs. PILOT recipients not only overperformed by job commitments—their achieved average wage of $76,706 exceeded the committed $62,388 wage by over $10,000. Total capital investments for the EDGE active PILOT portfolio showed an achieved $4.8 billion over the initial $3.6 billion that was expected.

This report found that active PILOT projects’ investments:

• Drove 40,287 indirect jobs in the community
• Supported nearly 17% of Shelby County jobs
• Yielded $149,500,580 in local City and County revenue

The EDGE PILOT Portfolio also supported 13.8 billion, or 23.7%, of the $58.6 billion Shelby County GDP.

The post EDGE Economic Development Finance Committee Approves Funding for Three Minority-Owned Businesses first appeared on Economic Development Growth Engine.