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Mimeo.com, Inc.

Project Number: 20180501
Pilot Type: Expansion
Status: Approved
Parcel ID: 07300600055
County Commission District: 11 | City Council District: 3

Summary

Mimeo.com was awarded a 15-year Expansion PILOT. Mimeo.com will relocate its corporate headquarters from New York, NY to Memphis, TN. The project will retain 284 employees at the existing Memphis manufacturing and distribution facility and create 171 net new jobs with an average salary of $54,930 excluding benefits. Mimeo.com will invest $13,469,000 to the facility located at 3350 Miac Cove.

Mimeo is an innovator of online content management, printing, and distribution. Mimeo has more than 50,000 customers who rely on the company for timely delivery of printed materials. Mimeo operates four print production and distribution centers around the world, each located next to a shipping hub. These centers include the existing Memphis facility and others in Newark, NJ; Cambridgeshire, UK; and Berlin, Germany.

The company is looking to consolidate its North American operations, expand its sales division, and co-locate its headquarters in the same facility. The Expansion PILOT will assist in relocating the Newark facility and bringing Mimeo’s senior leadership to the new Memphis-based U.S. corporate headquarters.

EDGE Staff projects $28,430,165 in tax revenues to be received during the PILOT term and an estimated $2,508,224 benefit to Mimeo.com.

PILOT Term:

15

Projected New Jobs:

171

Projected Retained Jobs:

284

Total Jobs:

455

Projected Average Payroll of New Jobs:

$59,363

Projected Average Payroll of Retained Jobs:

$50,014

Annual New Direct Payroll:

$10,151,135

Annual Retained Direct Payroll:

$14,841,816

Total Capital Investment:

$13,469,000
Real Property Investment:
$6,469,000

Personal Property Investment:
$7,000,000

Community Reinvestment Credit (CRC):
Not applicable

Capital Investment not in PILOT:
Not applicable

Projected Tax Revenue:

$28,430,165

Projected Taxes Abated:

$2,508,224
City: $1,096,094 (75%)
County: $1,412,130 (75%)

Benefit/Cost Ratio:

11.33

Projected MWBE/LOSB Spending:

$876,234

Incentive Provided:

$2,508,224

Compliance Information

Not applicable

Approved

5/16/2018

Ramp up Period

2 years

Closing

12/31/2018 (Personal)

Effective

12/31/2018

Lease Begins

12/31/2019 (Real)
12/31/2018 (Personal)

Lease Expires

12/31/2034 (Real)
12/31/2035 (Personal)

Amended

Not applicable

Property Details

Lease Began

12/31/2019 (Real)
12/31/2018 (Personal)

Lease Expires

12/31/2034 (Real)
12/31/2035 (Personal)

Mimeo.com, Inc.

3350 Miac Cove, Memphis, TN 38118