The Economic Development Growth Engine (EDGE) Board of Directors approved two Jobs Payment-in-Lieu-of-Tax (PILOT) requests from Ebrofrost North America, Inc., and Nucor Steel Memphis, Inc.  Currently, both facilities are vacant. These PILOTs will help put vacant buildings back in use while introducing a combined total of 31 new jobs.  

EDGE Board approved a seven year Jobs PILOT for Ebrofrost North America, Inc. The company is a wholly-owned subsidiary of the largest rice and second largest pasta manufacturer in the world. This facility will be the equivalent of three similar operations in Europe that process and distribute IQF (Individually Quick Frozen) rice, pasta and grain products.

For the terms of this PILOT, Ebrofrost North America, Inc. will create 16 new positions with an average base salary of $48,477 excluding overtime and benefits, and make more than $24 million worth of capital investments to a processing facility located at 2360 Prospect Street. Ebrofrost North America, Inc. is also required to spend at least $3,005,577 with certified minority and locally owned businesses. PILOT analysis projects a total of $1,581,690 worth of local tax revenues generated by the PILOT across the seven year PILOT term.

EDGE Board approved a five-year Jobs PILOT for Nucor Steel Memphis, Inc. Nucor Steel Memphis, Inc. is a wholly owned subsidiary of Nucor Corporation. Nucor Corporation and its affiliates manufacturer steel products with operating facilities primarily in the U.S and Canada. The products offered include carbon and alloy steel —in bars, beams, and sheets.

For the terms of this PILOT, Nucor Steel Memphis will create 15 new positions with an average base salary of $56,333, excluding overtime and benefits, and complete more than $8.1 million worth of capital investments to a manufacturing facility located at 2315 Pier Street. Nucor Steel is also required to spend at least $133,963 worth certified locally owned businesses. PILOT analysis projects a total of $595,493 worth of local tax revenues generated by the PILOT across the five-year PILOT term.

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