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Nucor Steel Memphis, Inc.
Project Number: 20120202
Pilot Type: Retention
Status: Approved
Parcel ID: 050097 00008
County Commission District: 9 | City Council District: 6, 8
Pilot Type: Retention
Status: Approved
Parcel ID: 050097 00008
County Commission District: 9 | City Council District: 6, 8
Summary
Nucor Steel will add 27 new jobs and invest $113 million in capital invest in its new facility at 3601 Paul R. Lowry Road.The 15-year PILOT will help the steel manufacturer add new jobs and invest in testing and quality control. The average salary of the new positions will be $75,000.
PILOT Term:
15 years
Projected New Jobs:
27
Projected Retained Jobs:
Not applicable
Total Jobs:
27
Projected Average Payroll of New Jobs:
$75,000
Projected Average Payroll of Retained Jobs:
Not applicable
Annual New Direct Payroll:
$2,025,000
Annual Retained Direct Payroll:
Not applicable
Total Capital Investment:
$113,000,000
Real Property Investment:
Not applicable
Personal Property Investment:
$113,000,000
Community Reinvestment Credit (CRC):
Not applicable
Capital Investment not in PILOT:
Not applicable
Projected Tax Revenue:
$9,554,995
Projected Taxes Abated:
$9,437,852
City:
$4,602,668
(75%)
County:
$4,835,184
(75%)
Benefit/Cost Ratio:
1.01
Projected MWBE/LOSB Spending:
$2,200,000
Incentive Provided:
$9,437,852
Compliance Information
Not applicable
Approved
2/15/2012
Ramp up Period
2 years
Closing
12/31/2013 (Personal)
Effective
12/31/2013
Lease Begins
12/31/2013 (Personal)
Lease Expires
12/31/2030 (Personal)
Amended
Not applicable
Property Details
Lease Began
12/31/2013 (Personal)
Lease Expires
12/31/2030 (Personal)