Project Number: 20200803
Pilot Type: Jobs
Status: Approved
Parcel ID: 073022 000373
County Commission District: 11 | City Council District: 4, 9

Summary

RDX, LLC (“Applicant”) is seeking a six-year Jobs PILOT to enable the company to create 15 Net New Jobs with an average wage of $44,172 and invest $8,699,485 to construct a new custom office and terminal facility on the site of the former Mall of Memphis.

The total project investment includes purchase of vacant land for $1,400,000, construction of an 11,680 square foot office building and ancillary truck terminal improvements at a cost of $7,099,485, and $200,000 in new personal property.
Parcel 073022 000373 (4504 American Way) is 41.9 acres. Only real property improvements will be included in the PILOT.

RDX is an integrated trucking and transportation company providing nationwide third-party freight and logistics services. Founded in 2011, by two first generation Americans working as truck drivers themselves, RDX and its related companies have grown to more than $23,000,000 in annual revenues. RDX currently employs 19 people in its leased facility located in Bartlett, Tennessee. The operation supports 85 drivers and 80 trucks.

RDX continues to grow and has been evaluating locations to move its operation into a facility that can accommodate more employees and vehicles. The company needs to be south of I-240 to improve efficiency with access to warehouses, reduce driver hours and reduce fuel consumption. The new facility needs to house all administrative, sales, dispatch and training functions. If financially feasible, the company desires to build and own a facility designed for their specific needs.

This project would complete the revitalization of the former Mall of Memphis site.

Estimated annual City and County property taxes will be $94,477 during the PILOT term and $247,437 after. The location produces $32,436 today in property taxes. Staff projects $809,628 in total local tax revenues to be received during the PILOT term of this project and a $937,025 benefit to the Applicant.

PILOT Term:

6 Years

Projected New Jobs:

15

Projected Retained Jobs:

Not applicable

Total Jobs:

15

Projected Average Payroll of New Jobs:

$44,172

Projected Average Payroll of Retained Jobs:

Not applicable

Annual New Direct Payroll:

Not applicable

Annual Retained Direct Payroll:

Not applicable

Total Capital Investment:

$8,699,485
Real Property Investment:
Not applicable

Personal Property Investment:
Not applicable

Community Reinvestment Credit (CRC):
Not applicable

Capital Investment not in PILOT:
$15

Projected Tax Revenue:

$820,679

Projected Taxes Abated:

Not applicable
City: Not applicable
County: Not applicable

Benefit/Cost Ratio:

.89

Projected MWBE/LOSB Spending:

$1,915,425

Incentive Provided:

$925,974

Compliance Information

Not applicable

Approved

8/19/2020

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

RDX, LLC

4504 American Way, Memphis, TN 38118