‹ Back To Pilot Programs

The Northwest Company, LLC

Project Number: 20180101
Project Type: Fast Track
Parcel ID: 09420000420
County Commission District: 11 | City Council District: 3

Summary

The Northwest Company, LLC was awarded a ten-year EDGE Fast Track Payment In Lieu of Tax (PILOT). The project will bring 25 new jobs to Memphis with an average base salary of $34,250 excluding benefits and $5.7 million worth of capital investment to the facility located at 4755 Southpoint Drive.

Founded in 1987 and headquartered in Roslyn, New York with facilities in North Carolina and California, The Northwest Company is a top manufacturer of branded blankets and throws. The company imports, manufactures, and distributes blankets, pillows, towels, bags, and accessories under licensing agreements with Disney, the NFL, MLB, NHL, NBA, MLS, and more than 250 colleges. The company sells to specialty stores and mass merchant retailers throughout the United States and Canada, and operates an online retail presence. The Northwest Company will lease a long vacant distribution facility in Southeast Memphis to support its customer base in the Central United States and house office space for order entry, customer services, and clerical functions.

EDGE Staff projects $5,117,002 in local total tax revenues to be received during the PILOT term and an estimated $4,967,197 benefit to The Northwest Company, LLC.

PILOT Term:

10

Projected New Jobs:

25

Projected Retained Jobs:

Not applicable

Total Jobs:

25

Projected Average Payroll of New Jobs:

$34,250

Projected Average Payroll of Retained Jobs:

Not applicable

Annual New Direct/Indirect Payroll:

$856,250

Annual Retained Direct/Indirect Payroll:

Not applicable

Total Capital Investment:

$5,716,400
Real Property Investment:
$3,716,400

Personal Property Investment:
$800,000

Community Reinvestment Credit (CRC):
$19,520,900

Capital Investment not in PILOT:
$1,200,000

Projected Tax Revenue:

$5,117,002

Projected Taxes Abated:

$4,967,197
City: $2,170,665 (75%)
County: $2,796,532 (75%)

Benefit/Cost Ratio:

1.03

Projected MWBE/LOSB Spending:

$1,674,180

Incentive Provided:

$4,967,197

Compliance Information

Not applicable

Approved

1/17/2018

Ramp up Period

Not applicable

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

The Northwest Company, LLC

4755 Southpoint Drive, Memphis, TN 0