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Mark Anthony Brewing Company

Project Number: 20181101
Project Type: Fast Track
Parcel ID: 09340000565
County Commission District: 11 | City Council District: 03, 08

Summary

Mark Anthony Brewing, Inc. was awarded a ten-year Fast Track PILOT to encourage the company to invest $11,456,473 at 5625 Challenge Drive and create 30 new jobs with an average salary of $37,679.

Mark Anthony Brewing Inc. is a division of The Mark Anthony Group of Companies, one of North America's most diversified private beverage companies focused on the alcohol beverage sector. In the United States, the Mark Anthony Group pioneered the flavored malt beverage category with the launch of Mike's Hard Lemonade in 1999. Mark Anthony Brewing Inc. provides supply chain management for The Mark Anthony Group of Companies and is focused on building for the long-term. The company is seeking to accommodate growth and is evaluating options for a large-scale distribution facility.

Mark Anthony Brewing Inc is also requesting that the EDGE Board of Directors allow for future amendments to the company’s application in order to facilitate a possible second phase that would include occupancy of an additional 120,000 square feet for $3,408,675 at 5625 Challenge and creation of twelve additional jobs within the two-year ramp up period.

EDGE Staff projects an estimated $1,827,780 in local total tax revenues to be received during the PILOT term of this project and an estimated $2,325,744 benefit to the Mark Anthony Brewing.

PILOT Term:

10

Projected New Jobs:

30

Projected Retained Jobs:

Not applicable

Total Jobs:

30

Projected Average Payroll of New Jobs:

$37,679

Projected Average Payroll of Retained Jobs:

Not applicable

Annual New Direct/Indirect Payroll:

$1,130,370

Annual Retained Direct/Indirect Payroll:

Not applicable

Total Capital Investment:

$11,456,473
Real Property Investment:
$925,861

Personal Property Investment:
$300,000

Community Reinvestment Credit (CRC):
$10,230,612

Capital Investment not in PILOT:
Not applicable

Projected Tax Revenue:

$1,827,780

Projected Taxes Abated:

$2,325,744
City: $1,016,350 (75%)
County: $1,309,394 (75%)

Benefit/Cost Ratio:

0.79

Projected MWBE/LOSB Spending:

$580,327

Incentive Provided:

$2,325,744

Compliance Information

Not applicable

Approved

11/15/2018

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

Mark Anthony Brewing Company

5625 Challenge Drive, Memphis, TN 38115