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LeSaint Logistics

Project Number: 20191106
Pilot Type: Fast Track
Status: Approved
Parcel ID: 094200 00446
County Commission District: | City Council District:

Summary

LeSaint Logistics (“Applicant”) was approved for a ten-year Fast Track PILOT to enable the company to create 52 Net New Jobs with an average base salary of $38,656 excluding benefits and invest $28,182,866 in the City of Memphis.

The total project investment includes requested Community Reinvestment Credit of $21,258,097 ($620,373 land value and $20,637,724 building value), $3,833,600 for renovations and $3,091,169 for new personal property at 5461 Davidson Road.Both real property improvements and personal property will be included in the PILOT.

Parcel 094200 00446 is 25.203 acres, contains a 900,000 square foot warehouse. The applicant will occupy 640,000 square feet, therefore a proportional benefit of 71.11% will be extended for the real property.
LeSaint Logistics is a privately held Third-Party-Logistics provider with 2018 revenues of $77.4 million. The company operates 22 warehousing, fulfillment and supply-chain management locations throughout 10 US states and Canada. This 15-year-old company serves more than 225 clients with supply-chain solutions for consumer packaged goods, chemicals, durable goods, food and beverage products.

The Applicant has been awarded a contract to design and manage the east coast shipping center for Beiersdorf and Coppertone products. LeSaint will provide retail fulfillment for several name brands including Nivea, Eucerin and Aquaphor, in addition to Coppertone sun protection and skin care products. A facility able to serve both US and international outlets must be identified, secured and operational by the third quarter of 2020.

PILOT Term:

10

Projected New Jobs:

52

Projected Retained Jobs:

Not applicable

Total Jobs:

52

Projected Average Payroll of New Jobs:

$38,656

Projected Average Payroll of Retained Jobs:

Not applicable

Annual New Direct Payroll:

$2,475,135

Annual Retained Direct Payroll:

Not applicable

Total Capital Investment:

$28,182,866
Real Property Investment:
$3,833,600

Personal Property Investment:
$3,091,169

Community Reinvestment Credit (CRC):
$21,258,097

Capital Investment not in PILOT:
Not applicable

Projected Tax Revenue:

$4,000,384

Projected Taxes Abated:

$5,532,395
City: $2,439,362
County: $3,093,033

Benefit/Cost Ratio:

.72

Projected MWBE/LOSB Spending:

$1,788,259

Incentive Provided:

$5,532,395

Compliance Information

Not applicable

Approved

11/13/2019

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

LeSaint Logistics

5461 Davidson Road, Memphis, TN 38118