Power Transport Invests In Memphis
With assistance from EDGE through its Payment In Lieu of Tax (PILOT) program, transportation and logistics company, Power Transport plans to revitalize a vacant and underutilized collection of buildings on 8.5 acres near the Memphis International Airport and expand its operations.
Through an eight-year EDGE Jobs PILOT, Power Transport will create 26 new jobs with an average salary of $62,807 and invest $1,675,000 at 3036 Directors Row. Power Transport plans to reuse a portion of the long vacant buildings for storage and logistics activities, demolish a portion of the buildings to create additional truck staging space, and renovate the remainder for corporate office functions.
Power Transport is an irregular route truckload carrier based in Memphis, TN founded on service, integrity, and safety. With more than 100 years of combined transportation management experience, Power Transport has dedicated lanes in the Southeast and Midwest United States. The company focuses on medium to short haul regional freight, offering industry leading on-time service.
EDGE Staff projects $860,634 in local tax revenues to be received during the PILOT term.