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FedEx SupplyChain Systems, Inc.
Project Number: 20141003
Pilot Type: Standard/Basic
Status: Approved
Parcel ID: 094200 00544
County Commission District: 11 | City Council District: 3
Pilot Type: Standard/Basic
Status: Approved
Parcel ID: 094200 00544
County Commission District: 11 | City Council District: 3
Summary
FedEx SupplyChain Systems, Inc. was awarded a 5-year PILOT that will enable the company to add 87 new jobs and invest $6.8 million at its new location at 5050 E. Holmes Road.The PILOT will allow the company to expand its high-tech
distribution and logistics service in the Memphis area by growing its physical distribution footprint.
FedEx SupplyChain Systems will receive a $4,320,800 Community Reinvestment Credit (CRC) for the use of 48 percent of the 5050 E. Holmes Road facility.
The average annual salary of the new employees will be $31,747.
The Project will create $1,856,818 in new tax revenue for Memphis and Shelby County, a Benefit/Cost ratio of $2.73 in new tax revenue for every $1.00 of abated taxes.
FedEx SupplyChain Systems is an integrated logistics provider that leverages shipping and information networks in commercial markets around the world.
The company provides integrated service for customers with high value products or complex supply chain requirements.
PILOT Term:
5 years
Projected New Jobs:
87
Projected Retained Jobs:
Not applicable
Total Jobs:
87
Projected Average Payroll of New Jobs:
$31,747
Projected Average Payroll of Retained Jobs:
Not applicable
Annual New Direct Payroll:
$2,761,989
Annual Retained Direct Payroll:
Not applicable
Total Capital Investment:
$6,820,800
Real Property Investment:
Not applicable
Personal Property Investment:
$2,500,000
Community Reinvestment Credit (CRC):
$4,320,800
Capital Investment not in PILOT:
Not applicable
Projected Tax Revenue:
$1,856,818
Projected Taxes Abated:
$679,040
City:
$296,740
County:
$382,300
Benefit/Cost Ratio:
2.73
Projected MWBE/LOSB Spending:
$392,500
Incentive Provided:
$679,040
Compliance Information
Not applicable
Approved
10/15/2014
Ramp up Period
2 years
Closing
12/31/2015 (Real)
Effective
12/31/2015
Lease Begins
12/31/2015 (Real)
12/31/2015 (Personal)
12/31/2015 (Personal)
Lease Expires
Not applicable
Amended
Not applicable
Property Details
Lease Began
12/31/2015 (Real)
12/31/2015 (Personal)
12/31/2015 (Personal)
Lease Expires
Not applicable