Expansion and Job Growth for Local, Family-Owned Business
The Pallet Factory Inc., a 42-year-old family-owned company will be expanding its operations and creating more jobs. The company makes pine and hardwood pallets and refurbishes existing pallets throughout the southeast.
The Pallet Factory was awarded a seven-year Jobs PILOT to enable it to create 15 new jobs with an average salary of nearly $56,000. It will invest $3,500,000 in a new 40,000 square foot facility and $800,000 in manufacturing equipment at its 3740 Arnold Road location in Memphis. The current facility was not sufficient to support continued growth. This PILOT will help the business improve efficiency, reduce material handling time and movement, and modernize production. The project will generate $686,892 in local total tax revenues during the PILOT term.
"While it's not a large investment, for a company like this, this is significant,” said EDGE President and CEO Reid Dulberger. “They are doubling the size of the building space to better serve their clients, and they are earning revenue within a 200-mile radius and bringing that money back into Memphis. We are pleased that they are looking to expand and that we can help them."