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DunAn Precision Inc
Project Number: 20151102
Pilot Type: Standard/Basic
Status: Approved
Parcel ID: 093400 00543
County Commission District: 11 | City Council District: 3
Pilot Type: Standard/Basic
Status: Approved
Parcel ID: 093400 00543
County Commission District: 11 | City Council District: 3
Summary
Memphis, Tenn. – DunAn Precision, Inc. was awarded an eight-year Basic PILOT to encourage the company to add 104 net new jobs and invest more than $23 million at 5750 Challenge Dr.DunAn Precision will invest $500,000 in real property improvements and $19,500,000 in personal property improvements at 5750 Challenge Dr.
In addition, DunAn Precision will receive $3,648,000 in Community Reinvestment Credit (CRC) for the use of 160,000 square feet (38 percent) of the Challenge Dr. facility, for a total capital investment of $23,648,000.
The average annual salary of the 104 net new employees will be $54,529.
The project will create $4,271,495 in new tax revenue for Memphis and Shelby County, and has a benefit to cost ratio of $2.01 of new tax revenue for every $1 of taxes abated.
The 8-year PILOT will allow for expansion and future growth within Memphis and Shelby County. The PILOT will enable DunAn Precision to locate a new heat exchanger manufacturing facility in Memphis and Shelby County.
Founded in 1987, DunAn is a global enterprise specializing in advanced manufacturing with more than $1.21 billion in sales revenue. DunAn’s market share for service valves, accumulators and pipe assemblies ranks first in the industry and the market share for reversing valves ranks second.
PILOT Term:
8 years
Projected New Jobs:
104
Projected Retained Jobs:
Not applicable
Total Jobs:
104
Projected Average Payroll of New Jobs:
$54,529
Projected Average Payroll of Retained Jobs:
Not applicable
Annual New Direct Payroll:
$5,671,016
Annual Retained Direct Payroll:
Not applicable
Total Capital Investment:
$23,648,000
Real Property Investment:
$500,000
Personal Property Investment:
$15,950,000
Community Reinvestment Credit (CRC):
Not applicable
Capital Investment not in PILOT:
$3,648,000
Projected Tax Revenue:
$4,271,495
Projected Taxes Abated:
$2,125,817
City:
$928,982
(75%)
County:
$1,196,835
(75%)
Benefit/Cost Ratio:
2.01
Projected MWBE/LOSB Spending:
$560,250
Incentive Provided:
$2,125,817
Compliance Information
Not applicable

Approved
11/18/2015
Ramp up Period
2 years
Closing
9/29/2017 (Real)
12/31/2016 (Personal)
12/31/2016 (Personal)
Effective
12/31/2016
Lease Begins
9/29/2017 (Real)
12/31/2016 (Personal)
12/31/2016 (Personal)
Lease Expires
9/29/2025 (Real)
12/31/2025 (Personal)
12/31/2025 (Personal)
Amended
Not applicable
Property Details
Lease Began
9/29/2017 (Real)
12/31/2016 (Personal)
12/31/2016 (Personal)
Lease Expires
9/29/2025 (Real)
12/31/2025 (Personal)
12/31/2025 (Personal)