Project Number: 20131001
Project Type: Standard/Basic
Parcel ID: 15733100000000
County Commission District: 5 | City Council District: 1

Summary

NovaCopy, Inc., was approved for a four-year PILOT to enable the company to add 30 new jobs and invest $4.8 million to construct a new 33,000-sq. ft. location at Appling Farms Business Park.

The Nashville-based copier and document solution provider seeks to bring to Memphis its new 3D-printing business and expand its local footprint. As part of the expansion, NovaCopy will provide 3D-printing products, manufacturing and prototype services.

The project will create $580,776 in new tax revenue for Memphis and Shelby County, a benefit-cost ratio of $1.44 in new tax revenue to every $1.00 of abated taxes.

PILOT Term:

4

Projected New Jobs:

30

Projected Retained Jobs:

Not applicable

Total Jobs:

30

Projected Average Payroll of New Jobs:

$44,133

Projected Average Payroll of Retained Jobs:

Not applicable

Annual New Direct/Indirect Payroll:

$3,740,316

Annual Retained Direct/Indirect Payroll:

Not applicable

Total Capital Investment:

$4,830,000
Real Property Investment:
$3,730,000

Personal Property Investment:
$1,100,000

Community Reinvestment Credit (CRC):
Not applicable

Capital Investment not in PILOT:
Not applicable

Projected Tax Revenue:

$580,776

Projected Taxes Abated:

$402,959
City: $194,335
County: $208,624

Benefit/Cost Ratio:

1.44

Projected MWBE/LOSB Spending:

$992,500

Incentive Provided:

$402,959

Compliance Information

Not applicable

Approved

10/16/2013

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

NovaCopy

5520 Shelby Oaks Drive, Memphis, TN 38134