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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
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)
12/31/2015 (Personal)
Effective
12/31/2015
Lease Begins
12/31/2015 (Real)
12/31/2015 (Personal)
12/31/2015 (Personal)
Lease Expires
12/31/2019 (Real)
12/31/2019 (Personal)
12/31/2019 (Personal)
Amended
Not applicable
Property Details
Lease Began
12/31/2015 (Real)
12/31/2015 (Personal)
12/31/2015 (Personal)
Lease Expires
12/31/2019 (Real)
12/31/2019 (Personal)
12/31/2019 (Personal)
NovaCopy
5520 Shelby Oaks Drive, Memphis, TN 38134-
Project Files
-
2013_
10_ 16_ NovaCopy_ ILS_ criteria. pdf - Application
- Analysis
- Onesheet
- Termsheet
- Diversity Plan
- Resolutions
- Minutes
-
2013_
- Closing
-
Compliance Files
-
Pilot Performance Report
-
2017_
12_ 31_ PILOT_ Perf_ NovaCopy_ Inc. _ 20131016. pdf -
2018_
12_ 31_ PILOT_ Perf_ Novatech_ Inc_ part_ 2_ Div. _ Spend. pdf -
2018_
12_ 31_ PILOT_ Perf_ Novatech_ Inc_ 20131016. pdf -
2019_
12_ 31_ PILOT_ Perf_ NovaTech_ 20131001. pdf -
2020_
EDGE_ Annual_ Report_ under_ review. pdf -
2020_
12_ 31_ PILOT_ Perf_ NovaCopy_ 20131016. pdf -
2021_
12_ 31_ PILOT_ Perf_ NovaCopy_ 20131016. pdf
-
2017_