Canadian Firm Expands to Memphis Generating Job Growth
AVT Beckett Elevators, Inc. was awarded a ten-year EDGE Fast Track Payment In Lieu of Tax (PILOT). The project will bring 25 new jobs to Memphis with an average salary of $35,992 excluding benefits and $3.5 million worth of capital investment to the facility located at 4949 East Raines Road. The Memphis location will be the company’s first facility located in the United States.
“We can cover a good portion of the northwestern United States through our location in Canada. However, the proposed Memphis location will be able to service a greater number of U.S. cities – especially as we grow our presence in the Southern and Eastern United States,” says Ms. Barb Buchanan, AVT Beckett Elevators, USA, president.
Founded in 2007, AVT Beckett Elevator sells to all five major elevator companies in Canada, as well as approximately 50 independently owned elevator companies. The company has 40% market share in Canada and wants to expand into the United States market.
EDGE Staff projects $1,222,984 in local total tax revenues to be received during the PILOT term and a $477,211 benefit to AVT Beckett.
For more information about the AVT Beckett project, please visit the EDGE Project Database.