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Bryce Corporation

Project Number: 20130401
Pilot Type: Retention
Parcel ID: 094200 00487
County Commission District: 11 | City Council District: 3, 9, 8

Summary

Bryce Corporation was approved for a 10-year PILOT to encourage the company to retain 318 jobs and add 95 net-new jobs, for a total of 413 jobs across a three-year period.

Bryce will invest $21,340,570 in real and personal property at 5405 Hickory Hill Road, 4505 Old Lamar Avenue, and 3825 Delp Street.

The Memphis-based company was founded in 1969 and manufactures packaging for some of the world’s largest retail brands.

EDGE Staff estimates the project will create $17,982,053 in tax revenue for Memphis and Shelby County and $4,016,294 of benefit for Bryce Corporation.

PILOT Term:

10 years

Projected New Jobs:

95

Projected Retained Jobs:

318

Total Jobs:

413

Projected Average Payroll of New Jobs:

$49,951

Projected Average Payroll of Retained Jobs:

$84,567

Annual New Direct/Indirect Payroll:

$721,120,321

Annual Retained Direct/Indirect Payroll:

Not applicable

Total Capital Investment:

$26,054,686
Real Property Investment:
$1,660,000

Personal Property Investment:
$19,680,570

Community Reinvestment Credit (CRC):
$4,714,116

Capital Investment not in PILOT:
Not applicable

Projected Tax Revenue:

$17,982,053

Projected Taxes Abated:

$4,016,294
City: $1,755,120 (90%)
County: $2,261,174 (75%)

Benefit/Cost Ratio:

4.48

Projected MWBE/LOSB Spending:

$1,750,000

Incentive Provided:

$4,016,294

Compliance Information

Not applicable

Approved

4/17/2013

Ramp up Period

3 years

Closing

1/1/2014 (Real)
1/1/2014 (Personal)

Effective

1/1/2014

Lease Begins

1/1/2014 (Real)
1/1/2014 (Personal)

Lease Expires

1/1/2025 (Real)
12/31/2027 (Personal)

Amended

Not applicable

Property Details

Lease Began

1/1/2014 (Real)
1/1/2014 (Personal)

Lease Expires

1/1/2025 (Real)
12/31/2027 (Personal)

Bryce Corporation

4505 Old Lamar, Memphis, TN 38118