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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