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Barnhart Crane and Rigging
Project Number: 20130619
Pilot Type: Standard/Basic
Status: Approved
Parcel ID: 0600092 00041
County Commission District: 10 | City Council District: 4
Pilot Type: Standard/Basic
Status: Approved
Parcel ID: 0600092 00041
County Commission District: 10 | City Council District: 4
Summary
Barnhart Crane and Rigging, Inc. was approved for a 9-year PILOT, enabling the company to add 20 new jobs and make a total investment of $5.2 million at the 2085 WE Freeman facility.Barnhart will purchase the 153,455-square-foot facility at 2085 WE Freeman and construct an additional 60,000-square-foot expansion.
As part of this expansion, Barnhart plans to grow its local employment from 106 to 126 full-time positions; the average salary of the new employees will be $64,532.
EDGE Staff estimates the project will generate $838,043 in tax revenue for Memphis and Shelby County and $661,577 of benefit to Barnhart.
On March 09, 2017, Barnhart voluntarily surrendered 5-years of PILOT benefit.
PILOT Term:
9 years
Projected New Jobs:
20
Projected Retained Jobs:
Not applicable
Total Jobs:
20
Projected Average Payroll of New Jobs:
$64,532
Projected Average Payroll of Retained Jobs:
Not applicable
Annual New Direct Payroll:
$1,290,640
Annual Retained Direct Payroll:
Not applicable
Total Capital Investment:
$5,200,000
Real Property Investment:
$2,200,000
Personal Property Investment:
Not applicable
Community Reinvestment Credit (CRC):
$1,102,800
Capital Investment not in PILOT:
Not applicable
Projected Tax Revenue:
$838,043
Projected Taxes Abated:
$661,577
City:
$316,367
County:
$345,210
Benefit/Cost Ratio:
1.27
Projected MWBE/LOSB Spending:
$1,189,400
Incentive Provided:
$661,577
Compliance Information
Not applicable

Approved
6/19/2013
Ramp up Period
2 years
Closing
12/31/2013 (Real)
Effective
12/31/2013
Lease Begins
12/31/2013 (Real)
Lease Expires
12/31/2022 (Real)
Amended
Not applicable
Property Details
Lease Began
12/31/2013 (Real)
Lease Expires
12/31/2022 (Real)
Barnhart Crane and Rigging
2163 Airways Blvd, Memphis, TN 38114-
Project Files
-
8_
2016_ 06_ 19_ Barnhart_ Resolution. pdf - Application
- Analysis
- Onesheet
- Termsheet
- Diversity Plan
- Resolutions
- Minutes
-
8_
- Closing
- Compliance Files