‹ Back To Pilot Programs
RDX, LLC
Project Number: 20200803
Pilot Type: Jobs
Status: Approved
Parcel ID: 073022 000373
County Commission District: 11 | City Council District: 4, 9
Pilot Type: Jobs
Status: Approved
Parcel ID: 073022 000373
County Commission District: 11 | City Council District: 4, 9
Summary
RDX, LLC (“Applicant”) was approved for a six-year Jobs PILOT to enable the company to create 15 Net New Jobs with an average wage of $44,172 and invest $8,699,485 to construct a new custom office and terminal facility on the site of the former Mall of Memphis.The total project investment includes purchase of vacant land for $1,400,000, construction of an 11,680 square foot office building and ancillary truck terminal improvements at a cost of $7,099,485, and $200,000 in new personal property.
Parcel 073022 000373 (4504 American Way) is 41.9 acres. Only real property improvements will be included in the PILOT.
RDX is an integrated trucking and transportation company providing nationwide third-party freight and logistics services. Founded in 2011, by two first generation Americans working as truck drivers themselves, RDX and its related companies have grown to more than $23,000,000 in annual revenues. RDX currently employs 19 people in its leased facility located in Bartlett, Tennessee. The operation supports 85 drivers and 80 trucks.
RDX continues to grow and has been evaluating locations to move its operation into a facility that can accommodate more employees and vehicles. The company needs to be south of I-240 to improve efficiency with access to warehouses, reduce driver hours and reduce fuel consumption. The new facility needs to house all administrative, sales, dispatch and training functions. If financially feasible, the company desires to build and own a facility designed for their specific needs.
This project would complete the revitalization of the former Mall of Memphis site.
Estimated annual City and County property taxes will be $94,477 during the PILOT term and $247,437 after. The location produces $32,436 today in property taxes. Staff projects $809,628 in total local tax revenues to be received during the PILOT term of this project and a $937,025 benefit to the Applicant.
PILOT Term:
6 Years
Projected New Jobs:
15
Projected Retained Jobs:
Not applicable
Total Jobs:
15
Projected Average Payroll of New Jobs:
$44,172
Projected Average Payroll of Retained Jobs:
Not applicable
Annual New Direct Payroll:
$662,580
Annual Retained Direct Payroll:
Not applicable
Total Capital Investment:
$8,699,485
Real Property Investment:
$8,499,485
Personal Property Investment:
$200,000
Community Reinvestment Credit (CRC):
Not applicable
Capital Investment not in PILOT:
Not applicable
Projected Tax Revenue:
$820,679
Projected Taxes Abated:
$925,974
City:
$408,420
County:
$517,554
Benefit/Cost Ratio:
.89
Projected MWBE/LOSB Spending:
$1,915,425
Incentive Provided:
$925,974
Compliance Information
Not applicable
Approved
8/19/2020
Ramp up Period
2 Years
Closing
Not applicable
Effective
Not applicable
Lease Begins
Not applicable
Lease Expires
Not applicable
Amended
Not applicable
Property Details
Lease Began
Not applicable
Lease Expires
Not applicable