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ABF Freight System

Project Number: 20140501
Project Type: Standard/Basic
Parcel ID: 060108 00006
County Commission District: 10 | City Council District: 4

Summary

ABF Freight System, Inc. was approved for a 14-year PILOT to enable the company to invest more than $20 million in a new terminal expansion in Memphis while creating at least 283 new jobs with an average annual salary of $73,546 excluding benefits. The expansion will grow ABF Freight’s Dunn Ave. footprint to include nearby property at 2147 Frisco, and 0 Frisco Avenue.

Founded in 1923, ABF Freight has grown into a global provider of customizable, end-to-end supply chain solutions. ABF Freight employs 10,000 full-time employees and is one of the largest less-than-truckload motor carriers in North America, with 247 service centers in all 50
states, Canada and Puerto Rico.

EDGE Staff estimates the project will create $21.5 million in new tax revenue for Memphis and Shelby County and more than $4 million in tax benefits for ABF Freight System.

PILOT Term:

14

Projected New Jobs:

283

Projected Retained Jobs:

Not applicable

Total Jobs:

283

Projected Average Payroll of New Jobs:

$73,546

Projected Average Payroll of Retained Jobs:

Not applicable

Annual New Direct/Indirect Payroll:

$49,091,244

Annual Retained Direct/Indirect Payroll:

Not applicable

Total Capital Investment:

$20,550,000
Real Property Investment:
$18,050,000

Personal Property Investment:
$2,500,000

Community Reinvestment Credit (CRC):
Not applicable

Capital Investment not in PILOT:
Not applicable

Projected Tax Revenue:

$21,562,029

Projected Taxes Abated:

$4,065,078
City: $1,776,439
County: $2,288,639

Benefit/Cost Ratio:

5.30

Projected MWBE/LOSB Spending:

$7,622,434

Incentive Provided:

$4,065,078

Compliance Information

Not applicable

Approved

5/21/2014

Ramp up Period

3

Closing

Not applicable

Effective

Not applicable

Lease Begins

5/20/2016 (Personal)

Lease Expires

Not applicable

Amended

Not applicable

Property Details

Lease Began

5/20/2016 (Personal)

Lease Expires

Not applicable

ABF Freight System

2080 Dunn Avenue, 2147 Frisco Memphis, TN 38114