EDGE Celebrates Small Business Growth with Two PILOT Recipients
Memphis, TN (April 27, 2021) Today EDGE along with the City of Memphis, Shelby County Government, and the Greater Memphis Chamber, celebrated the official groundbreaking of a new facility for RDX, LLC.
In August of 2020, RDX was approved for a six-year Jobs PILOT from EDGE to encouragethe company to create 15 new jobs with an average wage of $44,172 and invest $8,699,485 to construct a new custom office space and terminal facility on the site of the former Mall of Memphis.
RDX is an integrated trucking and transportation company providing nationwide third-party freight and logistics services. Founded in Bartlett, TN in 2011, RDX and its related companies have grown to more than $23,000,000 in annual revenues. This project will complete the revitalization of the former Mall of Memphis site. Estimated annual City and County property taxes will be $94,477 during the PILOT term and $247,437 after. The location produces $32,436 today in property taxes.
“It is wonderful to see existing local firms grow and expand. This project highlights innovation in partnership. The fact that two of our PILOT recipients have been able to work together to move this forward showcases the importance of looking at economic development from a larger lens.” stated Reid Dulberger, CEO of EDGE, “Without the TAG Truck Center partnership, access to the land needed to build this complex would have been difficult to secure in RDX’s desired location.” TAG Truck Center gained control of the entire Mall of Memphis site but didn’t need all of it for their project. This left just enough, at just under 42 acres for RDX to establish a plan for their own expansion.
In 2016 TAG Truck Enterprises received a 12‐year Expansion PILOT to encourage the company to add 62 net new jobs and retain 141 jobs. The PILOT encourages TAG Truck Enterprises to keep its existing operations in Memphis, bring jobs to Memphis from their Arkansas facility, add new jobs and build the TAG training center. The new complex will combine five facilities and construct a 182,795 square‐foot facility at the long vacant former Mall of Memphis site. TAG is an outsourced truck fleet manager for FedEx, AutoZone, Pepsi, Ozark Motor Line and others in the Memphis transportation industry.