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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.

The project will create $21.5 million in new tax revenue for Memphis and Shelby County.

The less-than-truckload carrier will invest $20.5 million to expand its Memphis terminal and build a new truck maintenance facility at 2080 Dunn Ave.

The expansion will grow ABF Freight’s Dunn Ave. footprint to include nearby property at 2147 Frisco, and 0 Frisco Avenue.

As part of the project, ABF Freight will expand its 42,000-square-foot facility to 138,000 square feet including a new maintenance facility.

The company is committing to hire 283 new employees with an average annual pay of $73,546, and spending more than $7 million with minority and locally-owned small businesses.

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.

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

Not applicable

Lease Expires

Not applicable

Amended

Not applicable

Property Details

Lease Began

Not applicable

Lease Expires

Not applicable

ABF Freight System

2080 Dunn Avenue, 2147 Frisco Memphis, TN 38114