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OMO Energy and Technology Inc

Project Number: 20180403
Pilot Type: Fast Track
Status: Approved
Parcel ID: 05011500003C
County Commission District: 9 | City Council District: 6


OMO Energy & Technology, Inc. was awarded a ten-year Fast Track PILOT to encourage the company to create 25 new jobs and invest $3,098,000 at 2560 Channel Avenue. The total project investment includes $595,000 for the location purchase, $300,000 for renovation of an existing structure and $2,203,000 for office equipment, manufacturing machinery and storage tanks. OMO Energy & Technology will hire 25 net new employees with an average salary of $50,866 excluding benefits.

Headquartered in Lanham, Maryland, OMO Energy & Technology, Inc. distributes petroleum products directly from suppliers. The company is seeking a central United States location in an industrial area served by rail and port facilities for its first owned and operated bio-diesel plant. OMO Energy & Technology is particularly interested in the Delta Region as a source for renewable products.

The plant will blend and package lubricants, motor oils and greases.The site will accommodate administrative and sales offices, a quality assurance laboratory, and product manufacturing. Storage will be accommodated by 27 to 30 above-ground tanks with a capacity of 30,000 gallons each that will be placed in a pit with dykes to protect the site from spillage. Additionally, 55-gallon drums and five-gallon pails will be stored in the warehouse.

EDGE staff projects $1,134,790 in local total tax revenues to be received during the PILOT term of this project and an estimated $299,925 benefit to OMO Energy & Technology, Inc.



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Community Reinvestment Credit (CRC):
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Capital Investment not in PILOT:
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Projected Taxes Abated:

City: $131,067 (75%)
County: $168,858 (75%)

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Compliance Information

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Lease Begins

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Property Details

Lease Began

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Lease Expires

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OMO Energy and Technology Inc

2560 Channel Drive, Memphis, TN 38106