Pandrol USA is moving its North American headquarters to Memphis and creating numerous jobs and investment in the process.
The company will create 73 jobs with an average salary of $49,453 and invest $9,291,200 in renovating the facility at 611 Winchester Road in Memphis. EDGE assisted the company through a 15-year Community Builder PILOT.
For the terms of the PILOT, after environmental remediation and site work, the company will move its North American headquarters to Memphis and launch a manufacturing operation at the facility. The company committed to spend nearly $1 million with MWBE/LOSB businesses.
Financial assistance was needed to help expand the local economy, spark investment, and create jobs in an economically distressed area. Additionally, the project is helping to remove blight and improve of the overall neighborhood quality of life for the area.
Pandrol USA manufactures and installs rail fastening products such as railroad clips, crosstie plates and screw spikes. The parent company operates 17 related companies around the globe and has 1,700 total employees.