EDGE’s mission is to provide and coordinate public resources to drive economic development in Memphis and Shelby County. EDGE does this through ongoing economic activities and projects that provide real value to the community and provide a strong foundation for future economic growth.
In March of 2016, EDGE approved a 10-year Jobs PILOT to encourage Hollywood Feed to invest more than $10 million in a distribution facility near the intersection of Warford and Chelsea in North Memphis. The company also added 108 new jobs and retained 42 existing jobs to accommodate its continued growth.
Binghampton Development Corporation (BDC) was awarded a 15-year Community Builder PILOT to enable the organization to construct a 48,565 SF grocery-anchored commercial center located at the Southeast corner of Sam Cooper Boulevard and Tillman Street.
Champion’s Pharmacy & Herb Store, a family-owned business in South Memphis, was approved for a $20,000 Inner City Economic Development (ICED) Loan.
North Memphis chemical manufacturing company, Penn A Kem is planning to add 28 new jobs and invest $38,545,000 at its 3324 Chelsea Avenue location with help from EDGE. The 28 employees will make $73,740 annually, not including benefits.
Parkside at Shelby Farms Park was approved for a 20-year EDGE TIF. The project is one of the largest private development projects in the City and County and will generate substantial tax revenues while helping stem outmigration of population to other areas.
Pandrol USA will move its North American Headquarters to Memphis, creating 73 jobs and investing more than $9 million in renovating the facility at 611 Winchester Road. EDGE assisted the company through a 15-year Community Builder PILOT.
ServiceMaster Global Holdings, a leading provider of essential residential and commercial services, announced it would move its global headquarters to downtown Memphis.
Developers of Southgate Center were awarded a 15-year Community Builder PILOT to redevelop a 208,297 square foot full service grocery-anchored shopping center in South Memphis.
On the Spot Cuts & Styles applied for assistance to help with interior renovations and façade improvements, parking lot resurfacing, and retention and hiring of employees.
Hyosung Heavy Industries announced that it has big plans for the Mitsubishi Electric Power Products plant – plans that include saving a number of jobs for workers there. To help make this project reality, EDGE approved an 11-year Jobs PILOT.
The Alcy Ball Development Corporation plans to spend $200,000 to redevelop a local building as a neighborhood hub. The EDGE Economic Development Finance Committee approved a $25,000 Inner City Economic Development Loan to help the Development Corporation make the needed renovations.
Liz Kinnmark, owner of Bendy Beast, was awarded a $20,000 Inner City Economic Development Loan to help renovate her new space near Bellevue and Lamar. The blighted building will soon be the new home of Bendy Beast, offering classes in yoga, flexibility training, Pilates, pole fitness and dancing.