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Logical Systems

Project Number: 20120701
Pilot Type: Standard/Basic
Status: Approved
Parcel ID: 073006 00034
County Commission District: 5 | City Council District: 1, 9

Summary

Logical Systems, a controls engineering and integration company, will add 14 new jobs and invest $2 million in real property improvements.

The project will create $651,105 in new tax revenue for Memphis and Shelby County.

The locally-based company plans on using the capital investment and new employees to grow its operations to a new 30,000-square-foot facility at 2756 Appling Center Cove.

PILOT Term:

9 years

Projected New Jobs:

14

Projected Retained Jobs:

Not applicable

Total Jobs:

14

Projected Average Payroll of New Jobs:

$90,000

Projected Average Payroll of Retained Jobs:

Not applicable

Annual New Direct Payroll:

$1,260,000

Annual Retained Direct Payroll:

Not applicable

Total Capital Investment:

$2,000,000
Real Property Investment:
$400,000

Personal Property Investment:
Not applicable

Community Reinvestment Credit (CRC):
$1,600,000

Capital Investment not in PILOT:
Not applicable

Projected Tax Revenue:

$651,105

Projected Taxes Abated:

$423,720
City: $206,640
County: $217,080

Benefit/Cost Ratio:

1.54

Projected MWBE/LOSB Spending:

$1,326,680

Incentive Provided:

$423,720

Compliance Information

Not applicable

Approved

7/18/2012

Ramp up Period

2 years

Closing

12/31/2012 (Real)

Effective

1/1/2013

Lease Begins

1/1/2013 (Real)
1/1/2013 (Personal)

Lease Expires

12/31/2021 (Real)
12/31/2021 (Personal)

Amended

Not applicable

Property Details

Lease Began

1/1/2013 (Real)
1/1/2013 (Personal)

Lease Expires

12/31/2021 (Real)
12/31/2021 (Personal)

Logical Systems

3204 Jean Dr, Memphis, TN 38118