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FedEx
Project Number: 20120203
Pilot Type: Retention
Status: Approved
Parcel ID: 078028 00303
County Commission District: 3 | City Council District: 3, 8
Pilot Type: Retention
Status: Approved
Parcel ID: 078028 00303
County Commission District: 3 | City Council District: 3, 8
Summary
FedEx will invest $90 million in a state-of-the art pilot training facility at the Memphis International Airport helping the shipping giant retain 333 jobs.FedEx received a 13-year PILOT that will help install more simulators and consolidating them at its 3855 Airways facility.
PILOT Term:
13 years
Projected New Jobs:
Not applicable
Projected Retained Jobs:
333
Total Jobs:
333
Projected Average Payroll of New Jobs:
Not applicable
Projected Average Payroll of Retained Jobs:
$76,707
Annual New Direct Payroll:
$25,543,431
Annual Retained Direct Payroll:
Not applicable
Total Capital Investment:
$141,850,000
Real Property Investment:
$46,700,000
Personal Property Investment:
$95,150,000
Community Reinvestment Credit (CRC):
Not applicable
Capital Investment not in PILOT:
Not applicable
Projected Tax Revenue:
$32,131,904
Projected Taxes Abated:
$14,642,526
City:
$7,140,890
County:
$7,501,636
Benefit/Cost Ratio:
2.19
Projected MWBE/LOSB Spending:
$9,364,000
Incentive Provided:
$14,642,526
Compliance Information
Not applicable
Approved
2/15/2012
Ramp up Period
4 years
Closing
12/31/2014 (Real)
12/31/2014 (Personal)
12/31/2014 (Personal)
Effective
12/31/2014
Lease Begins
12/31/2014 (Real)
12/31/2014 (Personal)
12/31/2014 (Personal)
Lease Expires
12/31/2020 (Real)
12/31/2031 (Personal)
12/31/2031 (Personal)
Amended
Not applicable
Property Details
Lease Began
12/31/2014 (Real)
12/31/2014 (Personal)
12/31/2014 (Personal)
Lease Expires
12/31/2020 (Real)
12/31/2031 (Personal)
12/31/2031 (Personal)