Project Number: 20120202
Project 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
County: $4,835,184

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

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

Nucor

3605 Paul R Lowery Rd, Memphis, TN 38109