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AB Mauri Fleischmann's (ABMF)

Project Number: 20120201
Pilot Type: Retention
Status: Approved
Parcel ID: 05011800024C
County Commission District: 9 | City Council District: 6, 8

Summary

AB Mauri Fleischmann was awarded an eight-year PILOT to help increase production and modernize the facility. The company will invest $10.5 million in new equipment and retain 52 jobs with an average salary of $72,000 excluding benefits.

AB Mauri Fleischmann is a global leader in yeast and bakery ingredient products. Headquartered in St. Louis, MO, AB Mauri has production facilities in the United States (Cedar Rapids, IA, Wilsonville, OR, Greenville, TX); Canada (LaSalle, Quebec and Calgary, Alberta); and one in Mexico (Veracruz).

EDGE Staff projects $2,319,202 in total tax revenues to be received during the PILOT term of this project and a $543,632 benefit to AB Mauri Fleischmann.

PILOT Term:

8 years

Projected New Jobs:

Not applicable

Projected Retained Jobs:

52

Total Jobs:

52

Projected Average Payroll of New Jobs:

Not applicable

Projected Average Payroll of Retained Jobs:

$73,011

Annual New Direct/Indirect Payroll:

Not applicable

Annual Retained Direct/Indirect Payroll:

$9,259,056

Total Capital Investment:

$10,500,000
Real Property Investment:
Not applicable

Personal Property Investment:
$10,500,000

Community Reinvestment Credit (CRC):
Not applicable

Capital Investment not in PILOT:
Not applicable

Projected Tax Revenue:

$2,319,202

Projected Taxes Abated:

$543,632
City: $240,479
County: $303,153

Benefit/Cost Ratio:

4.27

Projected MWBE/LOSB Spending:

$296,500

Incentive Provided:

$543,632

Compliance Information

Not applicable

Approved

2/15/2012

Ramp up Period

2 years

Closing

12/31/2012 (Personal)

Effective

12/31/2012

Lease Begins

12/31/2012 (Personal)

Lease Expires

12/31/2023 (Personal)

Amended

Not applicable

Property Details

Lease Began

12/31/2012 (Personal)

Lease Expires

12/31/2023 (Personal)

AB Mauri Fleischmann's (ABMF)

2743 Riverport Rd, Memphis, TN 38109