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ABF Freight System
Project Number: 20140501
Pilot Type: Standard/Basic
Status: Approved
Parcel ID: 060108 00006
County Commission District: 10 | City Council District: 4
Pilot Type: Standard/Basic
Status: Approved
Parcel ID: 060108 00006
County Commission District: 10 | City Council District: 4
Summary
ABF Freight System, Inc. was approved for a 14-year PILOT to enable the company to invest more than $20 million in a new terminal expansion in Memphis while creating at least 283 new jobs with an average annual salary of $73,546 excluding benefits. The expansion will grow ABF Freight’s Dunn Ave. footprint to include nearby property at 2147 Frisco, and 0 Frisco Avenue.Founded in 1923, ABF Freight has grown into a global provider of customizable, end-to-end supply chain solutions. ABF Freight employs 10,000 full-time employees and is one of the largest less-than-truckload motor carriers in North America, with 247 service centers in all 50
states, Canada and Puerto Rico.
EDGE Staff estimates the project will create $21.5 million in new tax revenue for Memphis and Shelby County and more than $4 million in tax benefits for ABF Freight System.
PILOT Term:
14
Projected New Jobs:
283
Projected Retained Jobs:
Not applicable
Total Jobs:
283
Projected Average Payroll of New Jobs:
$73,546
Projected Average Payroll of Retained Jobs:
Not applicable
Annual New Direct Payroll:
$20,813,518
Annual Retained Direct Payroll:
Not applicable
Total Capital Investment:
$20,550,000
Real Property Investment:
$18,050,000
Personal Property Investment:
$2,500,000
Community Reinvestment Credit (CRC):
Not applicable
Capital Investment not in PILOT:
Not applicable
Projected Tax Revenue:
$21,562,029
Projected Taxes Abated:
$4,065,078
City:
$1,776,439
County:
$2,288,639
Benefit/Cost Ratio:
5.30
Projected MWBE/LOSB Spending:
$7,622,434
Incentive Provided:
$4,065,078
Compliance Information
Not applicable
Approved
5/21/2014
Ramp up Period
3
Closing
5/20/2016 (Personal)
Effective
5/20/2016
Lease Begins
5/20/2016 (Personal)
Lease Expires
5/20/2030 (Personal)
Amended
Not applicable
Property Details
Lease Began
5/20/2016 (Personal)
Lease Expires
5/20/2030 (Personal)