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Bryce Corporation

Project Number: 20130401
Project 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

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

Bryce Corporation

4505 Old Lamar, Memphis, TN 38118