Project Number: 20130301
Project Type: Standard/Basic
Parcel ID: 094200 00507
County Commission District: 3 | City Council District: 3, 8

Summary

TJX Companies, Inc., was approved for a five-year PILOT to enable it to invest $6.9 million at a new facility located at 6100 East Holmes Road and hire up to 40 employees with the potential of adding as many as 117.

TJX sells apparel and home furnishings in the U.S., Canada and Europe under various retail brands (T.J. Maxx, Marshalls, HomeGoods, Winners, HomeSense, and T.K. Maxx) and is ranked No. 125 in the most recent Fortune 500 listings. The company has more than 2,900 stores in six countries and 168,000 employees, 47 of those stores are in Tennessee, with 12 in Memphis.

The project will create $1,302,750 in new tax revenue for Memphis and Shelby County, a benefit-cost ratio of $1.23 in new tax revenue to every $1.00 of abated taxes.

PILOT Term:

5 years

Projected New Jobs:

40

Projected Retained Jobs:

Not applicable

Total Jobs:

40

Projected Average Payroll of New Jobs:

$27,368

Projected Average Payroll of Retained Jobs:

Not applicable

Annual New Direct/Indirect Payroll:

$3,367,942

Annual Retained Direct/Indirect Payroll:

Not applicable

Total Capital Investment:

$17,081,462
Real Property Investment:
$1,050,000

Personal Property Investment:
$5,930,000

Community Reinvestment Credit (CRC):
$10,101,462

Capital Investment not in PILOT:
Not applicable

Projected Tax Revenue:

$1,302,750

Projected Taxes Abated:

$1,061,512
City: $511,040
County: $550,472

Benefit/Cost Ratio:

1.23

Projected MWBE/LOSB Spending:

$448,750

Incentive Provided:

$1,061,512

Compliance Information

Not applicable

Approved

3/20/2013

Ramp up Period

2 years

Closing

6/1/2013 (Real)

Effective

6/1/2013

Lease Begins

6/1/2013 (Real)

Lease Expires

6/1/2018 (Real)

Amended

Not applicable

Property Details

Lease Began

6/1/2013 (Real)

Lease Expires

6/1/2018 (Real)

TJX

6100 East Holmes Rd, Memphis, TN 38141