Project Number: 20170503
Pilot Type: Jobs
Status: Approved
Parcel ID: 05010200045
County Commission District: 09 | City Council District: 06


Cargill, Inc. was awarded a six-year Jobs PILOT that will enable the company to create 24 Net New Jobs with an average base salary of $60,417 excluding benefits. Cargill will invest $20 million at 2330 Buoy Street, Memphis, Tennessee.

Founded in 1865, Cargill, Inc. produces products used in the production of animal nutrition, food and beverage, and agriculture industries.

The PILOT will enable Cargill to optimize the corn germ network in order to aid extraction plants supplying crude corn oil to the oil refinery. The personal property investment will bring current assets up-to-date and improve plant efficiency. The investment will make the Memphis facility more efficient and operational for the future.

In 2010, Cargill was awarded an eight-year Retention PILOT. The PILOT approval enabled Cargill to retain 370 jobs, create 27 Net New Jobs, and invest $72 million at its facility located at 2330 Buoy Street, Memphis, Tennessee.

Effective January 2015, Cargill closed most of its Memphis corn milling facility due to transportation costs and its distance away from corn belt suppliers. Cargill surrendered the PILOT benefit when the facility was closed. The corn processing facility has been operating with a nominal staff of 41 employees since the closing.

EDGE Staff projects $1,500,207 in local total tax revenues to be received during the PILOT term and a $1,185,312 benefit to Cargill.



Projected New Jobs:


Projected Retained Jobs:

Not applicable

Total Jobs:


Projected Average Payroll of New Jobs:


Projected Average Payroll of Retained Jobs:

Not applicable

Annual New Direct Payroll:


Annual Retained Direct Payroll:

Not applicable

Total Capital Investment:

Real Property Investment:
Not applicable

Personal Property Investment:

Community Reinvestment Credit (CRC):
Not applicable

Capital Investment not in PILOT:
Not applicable

Projected Tax Revenue:


Projected Taxes Abated:

City: $518,670 (75%)
County: $666,642 (75%)

Benefit/Cost Ratio:


Projected MWBE/LOSB Spending:


Incentive Provided:


Compliance Information

Not applicable



Ramp up Period

2 years


12/31/2017 (Personal)



Lease Begins

12/31/2017 (Personal)

Lease Expires

12/31/2024 (Personal)


Not applicable

Property Details

Lease Began

12/31/2017 (Personal)

Lease Expires

12/31/2024 (Personal)

Cargill Inc.

2330 Buoy Street, Memphis, TN 38106