Project Number: 20120202
Pilot Type: Retention
Parcel ID: 050097 00008
County Commission District: 9 | City Council District: 6, 8

Summary

Nucor Steel will add 27 new jobs and invest $113 million in capital invest in its new facility at 3601 Paul R. Lowry Road.

The 15-year PILOT will help the steel manufacturer add new jobs and invest in testing and quality control. The average salary of the new positions will be $75,000.

PILOT Term:

15 years

Projected New Jobs:

27

Projected Retained Jobs:

Not applicable

Total Jobs:

27

Projected Average Payroll of New Jobs:

$75,000

Projected Average Payroll of Retained Jobs:

Not applicable

Annual New Direct/Indirect Payroll:

$5,152,188

Annual Retained Direct/Indirect Payroll:

Not applicable

Total Capital Investment:

$113,000,000
Real Property Investment:
Not applicable

Personal Property Investment:
$113,000,000

Community Reinvestment Credit (CRC):
Not applicable

Capital Investment not in PILOT:
Not applicable

Projected Tax Revenue:

$9,554,995

Projected Taxes Abated:

$9,437,852
City: $4,602,668 (75%)
County: $4,835,184 (75%)

Benefit/Cost Ratio:

1.01

Projected MWBE/LOSB Spending:

$2,200,000

Incentive Provided:

$9,437,852

Compliance Information

Not applicable

Approved

2/15/2012

Ramp up Period

2 years

Closing

12/31/2013 (Personal)

Effective

12/31/2013

Lease Begins

12/31/2013 (Personal)

Lease Expires

12/31/2030 (Personal)

Amended

Not applicable

Property Details

Lease Began

12/31/2013 (Personal)

Lease Expires

12/31/2030 (Personal)

Nucor

3605 Paul R Lowery Rd, Memphis, TN 38109