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Franklin Sports

Project Number: 20120802
Project Type: Standard/Basic
Parcel ID: 094100 00070
County Commission District: 5 | City Council District: 3, 8

Summary

Franklin Sports will add 40 new jobs and investing $550,000 at its local facility

The project will create $410,039 in new tax revenue for Memphis and Shelby County.

PILOT Term:

6 years

Projected New Jobs:

40

Projected Retained Jobs:

Not applicable

Total Jobs:

40

Projected Average Payroll of New Jobs:

$30,300

Projected Average Payroll of Retained Jobs:

Not applicable

Annual New Direct/Indirect Payroll:

$2,729,042

Annual Retained Direct/Indirect Payroll:

Not applicable

Total Capital Investment:

$3,292,480
Real Property Investment:
$50,000

Personal Property Investment:
$500,000

Community Reinvestment Credit (CRC):
$2,742,480

Capital Investment not in PILOT:
Not applicable

Projected Tax Revenue:

$801,852

Projected Taxes Abated:

$387,348
City: $188,904
County: $198,444

Benefit/Cost Ratio:

2.07

Projected MWBE/LOSB Spending:

$395,000

Incentive Provided:

$387,348

Compliance Information

Not applicable

Approved

10/17/2012

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

Franklin Sports

5510 Getwell Rd, Memphis, TN 38118