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International Paper, Inc.

Summary

International Paper received a $2,000,000 grant from the Tennessee FastTrack Economic Development Fund. The Tennessee FastTrack Economic Development Fund provides additional grant support for companies expanding or locating in Tennessee with reimbursable grants made to local industrial development boards. EDGE acted as a conduit for the grant.

The grant is part of an incentive package that will assist the company in constructing a new 10-story, 235,000 square foot tower at its corporate headquarters at the Memphis campus that will feature a 470-car garage and two pedestrian bridges. The company will also create 101 new jobs, retain 2,274 jobs and invest $115 million. The company will also invest in upgrades to its 6350 Poplar Avenue office tower.

Financing Amount:

$2,000,000

Projected Total Jobs:

2,375

Total Investment:

$633,968,540

Approved

2/20/2013

International Paper, Inc.

6420 Poplar Avenue, Memphis, TN 38119