Project Number: 20121001
Project Type: Retention
Parcel ID: 094200 00065C
County Commission District: 2 | City Council District: 7, 8, 3

Summary

Nike, Inc., will expand its Northridge facility by 1.8 million square feet, add 250 new jobs and invest $301 million.

The project will create $105,308,761 in new tax revenue for Memphis and Shelby County.

The Beaverton, Ore.-based company plans on using the capital investment and new employees to expand its operations at 3100 New Frayser Blvd. while upgrading its facility at 5151 Shelby Drive.

PILOT Term:

15 years

Projected New Jobs:

250

Projected Retained Jobs:

1,662

Total Jobs:

1,912

Projected Average Payroll of New Jobs:

$35,000

Projected Average Payroll of Retained Jobs:

$35,000

Annual New Direct/Indirect Payroll:

$174,071,343

Annual Retained Direct/Indirect Payroll:

Not applicable

Total Capital Investment:

$301,000,000
Real Property Investment:
$167,000,000

Personal Property Investment:
$134,000,000

Community Reinvestment Credit (CRC):
Not applicable

Capital Investment not in PILOT:
Not applicable

Projected Tax Revenue:

$105,308,761

Projected Taxes Abated:

$57,828,256
City: $27,839,922
County: $29,988,334

Benefit/Cost Ratio:

1.82

Projected MWBE/LOSB Spending:

$59,850,709

Incentive Provided:

$57,828,256

Compliance Information

Not applicable

Approved

10/17/2012

Ramp up Period

4 years

Closing

12/31/2013 (Real)

Effective

12/31/2013

Lease Begins

12/31/2013 (Real)

Lease Expires

Not applicable

Amended

Not applicable

Property Details

Lease Began

12/31/2013 (Real)

Lease Expires

Not applicable

Nike, Inc.

3100 Frayser Boulevard, Memphis, TN 38128