Project Number: 20171101
Project Type: Jobs
Parcel ID: 06907400014Z
County Commission District: 8 | City Council District: 7

Summary

PeroxyChem, LLC is seeking a seven-year Jobs PILOT to enable the company to create 15 net new Jobs. PeroxyChem commits to investing $9.6 million at 335 Stiles Drive, Memphis, Tennessee. The total project investment includes $2.7 million to construct a 108,000 square foot facility. Additionally, PeroxyChem will invest $4.3 million to purchase manufacturing machinery, supplies, and other personal property to be used in connection with the project. PeroxyChem will also invest $2.4 million in soft costs which will not be abated. The average annual base salary of 15 Net New Jobs is $56,667 excluding benefits.

The Jobs PILOT will encourage the company to construct a new production facility. The facility will make peracetic acid: a disinfectant used in many bacterial control applications from food and beverage to wastewater treatment.

Parcel 069074-00014Z (335 Stiles Drive) is comprised of 100 acres. PeroxyChem will sub-divide a portion of the parcel.

PeroxyChem is a global manufacturer and supplier of hydrogen peroxide, peracetic acid, persulfates, and other technologies. The company employs more than 500 people throughout the world and has facilities in North America, Europe, and Asia. PeroxyChem supplies customized chemistries for electronics, energy, environmental, food safety, paper and polymer.

EDGE Staff projects $788,868 in local total tax revenues to be received during the PILOT term and a $692,253 benefit to the Applicant.

PILOT Term:

7

Projected New Jobs:

15

Projected Retained Jobs:

Not applicable

Total Jobs:

15

Projected Average Payroll of New Jobs:

$56,667

Projected Average Payroll of Retained Jobs:

Not applicable

Annual New Direct/Indirect Payroll:

$850,005

Annual Retained Direct/Indirect Payroll:

Not applicable

Total Capital Investment:

$9,602,700
Real Property Investment:
$2,763,265

Personal Property Investment:
$4,426,343

Community Reinvestment Credit (CRC):
Not applicable

Capital Investment not in PILOT:
$2,413,092

Projected Tax Revenue:

$788,868

Projected Taxes Abated:

$692,253
City: $302,515 (75%)
County: $389,738 (75%)

Benefit/Cost Ratio:

1.14

Projected MWBE/LOSB Spending:

$794,654

Incentive Provided:

$692,253

Compliance Information

Not applicable

Approved

11/15/2017

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

PeroxyChem LLC

335 Stiles Drive, Memphis, TN 38127