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NovaCopy

Project Number: 20131001
Pilot Type: Standard/Basic
Status: Approved
Parcel ID: 15733100000000
County Commission District: 5 | City Council District: 1

Summary

NovaCopy, Inc., was approved for a four-year PILOT to enable the company to add 30 new jobs and invest $4.8 million to construct a new 33,000-sq. ft. location at Appling Farms Business Park.

The Nashville-based copier and document solution provider seeks to bring to Memphis its new 3D-printing business and expand its local footprint. As part of the expansion, NovaCopy will provide 3D-printing products, manufacturing and prototype services.

The project will create $580,776 in new tax revenue for Memphis and Shelby County, a benefit-cost ratio of $1.44 in new tax revenue to every $1.00 of abated taxes.

PILOT Term:

4

Projected New Jobs:

30

Projected Retained Jobs:

Not applicable

Total Jobs:

30

Projected Average Payroll of New Jobs:

$44,133

Projected Average Payroll of Retained Jobs:

Not applicable

Annual New Direct Payroll:

$1,323,990

Annual Retained Direct Payroll:

Not applicable

Total Capital Investment:

$4,830,000
Real Property Investment:
$3,730,000

Personal Property Investment:
$1,100,000

Community Reinvestment Credit (CRC):
Not applicable

Capital Investment not in PILOT:
Not applicable

Projected Tax Revenue:

$580,776

Projected Taxes Abated:

$402,959
City: $194,335
County: $208,624

Benefit/Cost Ratio:

1.44

Projected MWBE/LOSB Spending:

$992,500

Incentive Provided:

$402,959

Compliance Information

Not applicable

Approved

10/16/2013

Ramp up Period

2 years

Closing

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

Effective

12/31/2015

Lease Begins

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

Lease Expires

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

Amended

Not applicable

Property Details

Lease Began

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

Lease Expires

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

NovaCopy

5520 Shelby Oaks Drive, Memphis, TN 38134