Project Number: 20171003
Pilot Type: Expansion
Status: Approved
Parcel ID: 08002400025
County Commission District: 08 | City Council District: 02


Pfizer, Inc. was awarded a fourteen-year Expansion PILOT to encourage the company to remain in Memphis and retain 250 jobs at 949 S. Shady Grove Road. The total project investment includes the $2.9 million purchase of furniture, fixtures, and computer equipment. Additionally, Pfizer will invest $4.7 million for tenant improvements at the Shady Grove location.

The average annual base salary for the 250 corporate administrative support staff is $88,776 excluding benefits. Pfizer will occupy space in a 155,000 square-foot office building.

Founded in 1849, Pfizer is the world’s largest biopharmaceutical company. Pfizer manufactures products such as Lipitor, Celebrex, Norvasc, Lyrica, and Viagra. The Expansion PILOT will enable Pfizer to reduce overhead costs and improve its competitive position in the global market.

In December 2017, Pfizer PILOT 20171003 was amended to include an increase of office space to 65,593 square feet; increasing the Community Reinvestment Credit to $13,512,158. This resulted in a PILOT benefit of $5,909,182 with a local business participation increase to $2,073,521, and an increase in local tax revenue to $17,284,704.



Projected New Jobs:

Not applicable

Projected Retained Jobs:


Total Jobs:


Projected Average Payroll of New Jobs:

Not applicable

Projected Average Payroll of Retained Jobs:


Annual New Direct Payroll:

Not applicable

Annual Retained Direct Payroll:


Total Capital Investment:

Real Property Investment:

Personal Property Investment:

Community Reinvestment Credit (CRC):

Capital Investment not in PILOT:
Not applicable

Projected Tax Revenue:


Projected Taxes Abated:

City: $2,582,313 (75%)
County: $3,326,869 (75%)

Benefit/Cost Ratio:


Projected MWBE/LOSB Spending:


Incentive Provided:


Compliance Information

Not applicable



Ramp up Period



11/1/2018 (Real)
12/31/2019 (Personal)



Lease Begins

11/1/2018 (Real)
12/31/2019 (Personal)

Lease Expires

11/1/2032 (Real)
12/31/2033 (Personal)


Not applicable

Property Details

Lease Began

11/1/2018 (Real)
12/31/2019 (Personal)

Lease Expires

11/1/2032 (Real)
12/31/2033 (Personal)

Pfizer Inc.

949 South Shady Grove, Memphis, TN 38120