EDGE focuses on developing and fostering public/private partnerships to create jobs, grow the local economy, revitalize neighborhoods, attract investment, spark innovation, and encourage entrepreneurship. Click the plus (+) sign next to EDGE Programs in the left navigation to learn more about EDGE programs.
For additional information about EDGE programs, please contact John Lawrence, Senior Economic Development Specialist at 901.341.2110 or jlawrence [at] growth-engine [dot] org.
The ICED Loan program is designed to spark revitalization of Memphis inner city neighborhood business districts through small forgivable loans to assist with signage, façade, and other building improvements.
Tax-exempt industrial revenue bonds, also known as industrial development bonds, can provide low-cost financing for manufacturing projects. Interest earned by the bond buyers is exempt from federal income tax.
The coronavirus pandemic has adversely affected small businesses everywhere and especially in our most vulnerable neighborhoods. The EDGE Neighborhood Emergency Economic Development (NEED) Grant was created to provide relief to neighborhood-serving businesses in our city's most distressed areas. Grants of up to $10,000 will be made to businesses located in New Markets Tax Credit Eligible Census Tracks throughout the City of Memphis that have experienced at least a 25% loss in revenue as a result of COVID-19. Additionally, bars, restaurants and locally owned grocery stores that received a NEED Grant before January 1, 2021 and were affected by subsequent Shelby County Health Department Directives (including temporary closure of less than 90 days) are eligible for a second award of $5,000.
Foreign Trade Zones allow companies importing products or parts from other countries to delay, and in some cases, reduce or even eliminate the customers duties (taxes) that would otherwise be owed. Firms may also benefit from reduced administrative costs. FTZ-77 covers all of Shelby County. EDGE is the Zone Administrator. For more information about FTZ Zone 77, please contact Maggie Conway, Principal MAP Studio at 901.832.2229 or maggiecatt [at] comcast [dot] net.
A PILOT is a temporary, partial abatement of future real and/or personal property taxes that an applicant would otherwise have paid. In return, the applicant commits and contracts with local minority/women owned firms and small businesses to create or retain jobs with specified payroll and benefits; make the agreed upon investment; and contract with local minority/women/small firms. EDGE offers several PILOT programs designed for firms looking to expand or relocate in Memphis and Shelby County. For more information on EDGE PILOT programs, please visit the PILOT page or visit the EDGE Resource Library.
A TIF reinvests part of the increase in real and personal property taxes paid on a single property or defined area to offset project related costs. TIFs can fund public improvements and public infrastructure. With state approval, TIFs can also help finance private-owned facilities.
The Emerging Leaders program is a SBA-sponsored, seven month intensive, executive entrepreneurship education series that includes approximately 100 hours of classroom time per participant and provides the opportunity for small business owners to work with experienced mentors, attend workshops, and develop connections with their peers, city leaders, and financial communities. For more information about the program, please follow this link.