EDGE Board Approves Amendment to Pandrol USA PILOT as Company Looks to Invest More, Hire More People
Pandrol USA is moving its North American Headquarters to Memphis from New Jersey. The board approved a 15-year Community Builder PILOT last year to encourage the move.
Today, the board approved an amendment to the company’s PILOT to reflect more jobs and more investment:
- An increase in new jobs from 73 to 82
- An increase in average wage from $49,453 to $59,068
- An increase in total capital investment from $9,291,200 to $12,891,200
Per the amendment, the PILOT term would not change. The benefit to the applicant would increase by $800,000 and the benefit to the community would increase by more than $1 million. MWBE spend would increase by more than $600,000.