Project Number: 20131102
Project Type: Standard/Basic
Parcel ID: 05701200038
County Commission District: 5 | City Council District: 13

Summary

Monogram Food was approved for an eight-year PILOT to enable the company to add 25 new jobs and invest $2.1 million to expand its corporate headquarters to a new, 31,000 sq. ft. facility at 530 Oak Court Drive.

Memphis-based Monogram Food is one of the nation’s leading manufacturers of licensed, co-packed and company-owned brands of meat snacks. It is the parent company of Circle B and King Cotton smoked meat brands. The company currently occupies 19,300 sq. ft. at 930 White Station and seeks to double its existing space to accommodate additional employees.

The project will create $1,250,147 in new tax revenue for Memphis and Shelby County, a benefit-cost ratio of $1.98 in new tax revenue to every $1.00 of taxes abated.

PILOT Term:

8

Projected New Jobs:

25

Projected Retained Jobs:

Not applicable

Total Jobs:

25

Projected Average Payroll of New Jobs:

$85,120

Projected Average Payroll of Retained Jobs:

Not applicable

Annual New Direct/Indirect Payroll:

$4,941,102

Annual Retained Direct/Indirect Payroll:

Not applicable

Total Capital Investment:

$3,539,878
Real Property Investment:
$1,600,000

Personal Property Investment:
$500,000

Community Reinvestment Credit (CRC):
$1,439,878

Capital Investment not in PILOT:
Not applicable

Projected Tax Revenue:

$1,250,147

Projected Taxes Abated:

$632,982
City: $305,267
County: $327,715

Benefit/Cost Ratio:

1.98

Projected MWBE/LOSB Spending:

$410,000

Incentive Provided:

$632,982

Compliance Information

Not applicable

Approved

11/20/2013

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

Monogram Food

530 Oak Court Drive, Memphis, TN 38117