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International Paper

Project Number: 20130202
Pilot Type: Retention
Status: Approved
Parcel ID: 080008 00567
County Commission District: 4 | City Council District: 2, 9, 3, 8


International Paper Co. was awarded a 15-year Retention PILOT to help the paper and packaging manufacturer create 101 new jobs, retain 2,274 jobs and invest $115 million.

International Paper (NYSE: IP) is a leading global producer of renewable fiber-based packaging, pulp and paper products with manufacturing operations in North America, Latin America, Europe, North Africa, India and Russia. International Paper produces corrugated packaging products that protect and promote goods, and enable worldwide commerce; pulp for diapers, tissue and other personal hygiene products that promote health and wellness and papers that facilitate education and communication. International Paper is headquartered in Memphis, TN, and employs approximately 52,000 colleagues located in more than 24 countries.

With the expansion, International Paper plans to construct a 10-story, 235,000-square-foot tower at its corporate headquarters that will feature a 470-car garage and two pedestrian bridges. The company will also invest in upgrades to its 6350 Poplar Avenue office tower.

Previously under the past Industrial Development Board of Shelby County, International Paper was awarded five PILOTs which have since expired. International Paper was awarded an Expansion PILOT in 2000 (2015 expiration date) and in 2005 when the company moved its global headquarters from Stanford, CT to Memphis, TN (2020 expiration date).

The project will create $226,092,026 in local tax revenue for Memphis and Shelby County, a benefit-cost ratio of $4.26 in new tax revenue to every $1.00 of abated taxes.


15 years

Projected New Jobs:


Projected Retained Jobs:


Total Jobs:


Projected Average Payroll of New Jobs:


Projected Average Payroll of Retained Jobs:


Annual New Direct Payroll:


Annual Retained Direct Payroll:

Not applicable

Total Capital Investment:

Real Property Investment:

Personal Property Investment:

Community Reinvestment Credit (CRC):

Capital Investment not in PILOT:
Not applicable

Projected Tax Revenue:


Projected Taxes Abated:

City: $24,847,769
County: $32,012,114

Benefit/Cost Ratio:


Projected MWBE/LOSB Spending:


Incentive Provided:


Compliance Information

Not applicable



Ramp up Period

4 years


12/31/2014 (Real)
12/31/2015 (Personal)



Lease Begins

12/31/2014 (Real)
12/31/2015 (Personal)

Lease Expires

12/31/2030 (Real)
12/31/2031 (Personal)



Property Details

Lease Began

12/31/2014 (Real)
12/31/2015 (Personal)

Lease Expires

12/31/2030 (Real)
12/31/2031 (Personal)

International Paper

6420 Poplar Ave, Memphis, TN 38119