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Barrett Distribution

Project Number: 20120801
Project Type: Standard/Basic
Parcel ID:
County Commission District: 12 | City Council District: 3, 8

Summary

Barrett Distribution will invest invest $4.9 million in real and personal property while adding 35 new jobs with an average annual salary of $42,600 to help the third-party logistics provider expand its existing facility.

The Franklin, MA-based logistics company plans on using the capital investment and new employees for a 254,940-square-foot expansion of its Memphis operations at 4836 Hickory Hill.

EDGE Staff estimates the project will create $1 million in tax revenue for Memphis and Shelby County and more than $685,000 of benefit to Barrett Distribution.

PILOT Term:

5 years

Projected New Jobs:

35

Projected Retained Jobs:

Not applicable

Total Jobs:

35

Projected Average Payroll of New Jobs:

$42,600

Projected Average Payroll of Retained Jobs:

Not applicable

Annual New Direct/Indirect Payroll:

$3,959,540

Annual Retained Direct/Indirect Payroll:

Not applicable

Total Capital Investment:

$9,751,311
Real Property Investment:
$400,000

Personal Property Investment:
$4,500,000

Community Reinvestment Credit (CRC):
$4,851,311

Capital Investment not in PILOT:
Not applicable

Projected Tax Revenue:

$1,034,075

Projected Taxes Abated:

$685,979
City: $325,962 (90%)
County: $360,017 (75%)

Benefit/Cost Ratio:

1.51

Projected MWBE/LOSB Spending:

$1,400,000

Incentive Provided:

$685,979

Compliance Information

Not applicable

Approved

8/15/2012

Ramp up Period

2 years

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

Barrett Distribution

4836 Hickory Hill, Memphis, TN 38106