Technicolor Looks to Invest More in Memphis
Technicolor, a worldwide technology leader in the media and entertainment sector, is looking to invest more money in its Memphis operation and move four of its senior executives to this city.
The EDGE Board has amended the company's original PILOT agreement to include the addition of four company executives, and the ability to add $32 million in new capital investment. It also gives Technicolor the latitude to use a third-party logistics operator at its locations.
The company was originally awarded a 15-year Expansion PILOT in 2017. Technicolor was considering locations in Fayette County; La Vergne, Tennessee; and Huntsville, Alabama. The EDGE Board approved the PILOT to retain Technicolor in Memphis. That PILOT retained 916 jobs and invested more than $50 million at 5215 Lamar Avenue, 4010 Holmes Road, 4155 Holmes Road and 4926 Southridge Boulevard. The company also committed to spend more than $5.5 million with local Minority/Women-Owned Businesses.
Today, Technicolor’s Memphis facilities exceed 3.2 million square feet of space and are the primary location for much of the packaging and distribution functions of Technicolor’s DVD Services.