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FedEx SupplyChain Systems, Inc.

Project Number: 20141003
Project Type: Standard/Basic
Parcel ID: 094200 00544
County Commission District: 11 | City Council District: 3

Summary

FedEx SupplyChain Systems, Inc. was awarded a 5-year PILOT that will enable the company to add 87 new jobs and invest $6.8 million at its new location at 5050 E. Holmes Road.

The PILOT will allow the company to expand its high-tech
distribution and logistics service in the Memphis area by growing its physical distribution footprint.

FedEx SupplyChain Systems will receive a $4,320,800 Community Reinvestment Credit (CRC) for the use of 48 percent of the 5050 E. Holmes Road facility.

The average annual salary of the new employees will be $31,747.

The Project will create $1,856,818 in new tax revenue for Memphis and Shelby County, a Benefit/Cost ratio of $2.73 in new tax revenue for every $1.00 of abated taxes.

FedEx SupplyChain Systems is an integrated logistics provider that leverages shipping and information networks in commercial markets around the world.

The company provides integrated service for customers with high value products or complex supply chain requirements.

PILOT Term:

5 years

Projected New Jobs:

87

Projected Retained Jobs:

Not applicable

Total Jobs:

87

Projected Average Payroll of New Jobs:

$31,747

Projected Average Payroll of Retained Jobs:

Not applicable

Annual New Direct/Indirect Payroll:

$8,035,596

Annual Retained Direct/Indirect Payroll:

Not applicable

Total Capital Investment:

$6,820,800
Real Property Investment:
Not applicable

Personal Property Investment:
$2,500,000

Community Reinvestment Credit (CRC):
$4,320,800

Capital Investment not in PILOT:
Not applicable

Projected Tax Revenue:

$1,856,818

Projected Taxes Abated:

$679,040
City: $296,740
County: $382,300

Benefit/Cost Ratio:

2.73

Projected MWBE/LOSB Spending:

$392,500

Incentive Provided:

$679,040

Compliance Information

Not applicable

Approved

10/15/2014

Ramp up Period

2 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

FedEx SupplyChain Systems, Inc.

5050 East Holmes Road, Memphis, TN 38118