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Enclara Pharmacia Inc

Project Number: 20180402
Project Type: Expansion
Parcel ID: 09200800015
County Commission District: 5 | City Council District: 1

Summary

Enclara Pharmacia, Inc. was awarded a nine-year Expansion PILOT to encourage the company to retain 216 jobs and invest $11,649,445 at a facility located at 2525 Horizon Lake Drive.

Enclara Pharmacia, Inc. wishes to maintain the Memphis facility and reinvest in the 65,000 SF operation. The average salary of the retained workers is $53,706 excluding benefits. This project will expand production capacity, replace outdated technology and provide continued compliance with Drug Enforcement Agency regulations.

Headquartered in Philadelphia, Enclara Pharmacia, Inc. is the largest provider of comprehensive hospice pharmacy services in the United States. It services customers through retail pharmacy networks and its two mail order fulfillment centers located in Memphis and Sharon Hill, Pennsylvania. The Memphis center processes more than three million prescriptions annually through a call center and fulfillment operation.

EDGE staff projects $7,943,774 in local total tax revenues to be received during the PILOT term of this project and an estimated $627,252 benefit to Enclara Pharmacia, Inc.

PILOT Term:

9

Projected New Jobs:

Not applicable

Projected Retained Jobs:

216

Total Jobs:

216

Projected Average Payroll of New Jobs:

Not applicable

Projected Average Payroll of Retained Jobs:

$53,706

Annual New Direct/Indirect Payroll:

Not applicable

Annual Retained Direct/Indirect Payroll:

$12,507,459

Total Capital Investment:

$11,649,445
Real Property Investment:
Not applicable

Personal Property Investment:
$9,465,550

Community Reinvestment Credit (CRC):
$2,183,895

Capital Investment not in PILOT:
$2,183,895

Projected Tax Revenue:

$7,943,774

Projected Taxes Abated:

$11,649,445
City: $5,090,807 (75%)
County: $6,558,638 (75%)

Benefit/Cost Ratio:

12.66

Projected MWBE/LOSB Spending:

$31,363

Incentive Provided:

$11,649,445

Compliance Information

Not applicable

Approved

4/18/2018

Ramp up Period

2

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

Enclara Pharmacia Inc

2525 Horizon Lake Drive, Suite 101 Memphis, TN 38133