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Container Maintenance

Project Number: 20130203
Project Type: Standard/Basic
Parcel ID: 093400 00537
County Commission District: 5 | City Council District: 3, 8

Summary

Container Maintenance Corp. received a four-year PILOT to enable the company to add 94 new jobs and invest $3.7 million at its new facility, located at 4530 Clarke Road.

Container Maintenance provides intermodal equipment repair, storage and maintenance services. It plans to grow to from 1,200 square feet to a 10,800-square-foot facility that will include a new yard and maintenance facility. The company also expects to add 94 new positions, taking its local workforce from 12 to 106.

The project will create $1,353,206 in new tax revenue for Memphis and Shelby County, a benefit-cost ratio of $4.61 in new tax revenue to every $1.00 of abated taxes.

PILOT Term:

4 years

Projected New Jobs:

94

Projected Retained Jobs:

Not applicable

Total Jobs:

94

Projected Average Payroll of New Jobs:

$34,676

Projected Average Payroll of Retained Jobs:

Not applicable

Annual New Direct/Indirect Payroll:

$9,577,491

Annual Retained Direct/Indirect Payroll:

Not applicable

Total Capital Investment:

$3,679,224
Real Property Investment:
$2,599,224

Personal Property Investment:
$1,080,000

Community Reinvestment Credit (CRC):
Not applicable

Capital Investment not in PILOT:
Not applicable

Projected Tax Revenue:

$1,353,206

Projected Taxes Abated:

$293,781
City: $141,432
County: $152,349

Benefit/Cost Ratio:

4.61

Projected MWBE/LOSB Spending:

$3,176,500

Incentive Provided:

$293,781

Compliance Information

Not applicable

Approved

2/20/2013

Ramp up Period

2 years

Closing

12/31/2013 (Real)

Effective

12/31/2013

Lease Begins

12/31/2013 (Real)

Lease Expires

12/31/2017 (Real)

Amended

Not applicable

Property Details

Lease Began

12/31/2013 (Real)

Lease Expires

12/31/2017 (Real)

Container Maintenance

4530 Clarke Road, Memphis, TN 38141