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Amazon.com.dedc, LLC

Project Number: 20171001
Project Type: Jobs
Parcel ID: 09410000289
County Commission District: 11 | City Council District: 03

Summary

Amazon.com.dedc, LLC. (Amazon) was awarded a fifteen-year Jobs PILOT to enable the company to construct a new 615,440 square foot “receive center” facility employing 600 full time employees. The total project investment includes $39.6 million to construct the brand new facility and $23.3 million to purchase manufacturing machinery and equipment.

The average annual base salary of the 600 new employees is $28,912 excluding benefits. The project is located at 3292 Holmes Road. This site is comprised of 83.3 acres of vacant land.

Founded on July 5, 1994, as an online book retailer, Amazon has expanded across the years to sell almost everything and is now one of the most valuable companies in the world. Amazon is a publicly traded company with more than $135 billion in revenue in 2016. Amazon and its subsidiaries operate more than 50 fulfillment centers, 23 sorting centers, and have more than 90,000 full time Amazon employees throughout the United States. The PILOT will encourage Amazon to construct a new receive center to support its North American fulfillment network. The facility will collect and repackage products for distribution to fulfillment centers across the United States.

EDGE Staff projects $36,851,947 in local tax revenues to be received during the PILOT term and a $15,194,936 benefit to Amazon.

PILOT Term:

15

Projected New Jobs:

600

Projected Retained Jobs:

Not applicable

Total Jobs:

600

Projected Average Payroll of New Jobs:

$28,912

Projected Average Payroll of Retained Jobs:

Not applicable

Annual New Direct/Indirect Payroll:

$17,347,200

Annual Retained Direct/Indirect Payroll:

Not applicable

Total Capital Investment:

$62,999,206
Real Property Investment:
$39,698,406

Personal Property Investment:
$23,300,800

Community Reinvestment Credit (CRC):
Not applicable

Capital Investment not in PILOT:
Not applicable

Projected Tax Revenue:

$36,851,947

Projected Taxes Abated:

$15,194,936
City: $6,640,188 (75%)
County: $8,554,748 (75%)

Benefit/Cost Ratio:

2.42

Projected MWBE/LOSB Spending:

$12,203,842

Incentive Provided:

$15,194,936

Compliance Information

Not applicable

Approved

10/18/2017

Ramp up Period

2

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

Amazon.com.dedc, LLC

3292 Holmes Road, Memphis, TN 38118