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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

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)

Effective

12/31/2014

Lease Begins

12/31/2014 (Real)
12/31/2014 (Personal)

Lease Expires

12/31/2020 (Real)
12/31/2031 (Personal)

Amended

12/31/2021

Property Details

Lease Began

12/31/2014 (Real)
12/31/2014 (Personal)

Lease Expires

12/31/2020 (Real)
12/31/2031 (Personal)

FedEx

3855 Airways Blvd, Memphis, TN 38116