EDGE Helps to Keep 315 Local Jobs, Create 110 New Jobs and $55 Million in Investment Through Three New Distribution Projects
Memphis, Tenn. (January 20, 2021) – Three distribution projects approved by EDGE today would create and retain more than 400 jobs and invest more than $55 million in Memphis. The projects help to continue Memphis' growth in distribution and the life sciences industry.
- California-based Max Tool would create 35 jobs at more than $37,000/year and invest more than $20 million at 6099 Global Drive to improve distribution of its products to the east coast and central US. The company expects the Memphis operation to grow to more than 50 employees in five years.
- Eversana Life Science Services would retain its 315 jobs and create 50 new jobs at more than $42,000/year, as well as invest $30 million across four properties in Memphis as it looks at future growth and consolidation.
- New York-based tech company Ubiquiti Inc. would create 25 jobs at more than $39,000/year and invest $5,000,000 at 6200 Global Drive in Memphis as part of its strategy to meet growing US demand.
Imperial Industrial Supply Company, doing business as Max Tool, is planning to bolster its distribution capabilities to better serve the east coast and central US. The company is a distributor of industrial tools and equipment for brands like Milwaukee, Duromax and Honda.
Imperial is looking to invest $20,900,000 to purchase and build out 6099 Global Drive to handle its distribution. The move would create 35 new jobs at more than $37,000 a year and Imperial expects the Memphis operation to grow to more than 50 employees within five years.
Beyond Memphis, the company is considering several other options including a new California property, properties in Pennsylvania, and properties in North Mississippi. The Memphis location would enable the company to shift around 70% of all distribution here, while leaving 30% in its existing California facility.
- 10-Year Fast Track PILOT
- 35 New Jobs with An Average Salary Of $37,771
- $20,900,000 Investment
- $2,881,663 in Total Local Tax Revenue
- $913,951 in Spending with Minority/Women-Owned Businesses
Eversana Life Science Services, LLC
Eversana Life Science Services, LLC, a pharmaceutical services company that currently employs 315 people at a distribution facility in Memphis, is considering several growth strategies and consolidation plans for its distribution network.
Today, the company’s pharma-distribution and medical-product warehousing is dependent on its current Memphis facilities along with several others across the country. As part of its consolidation plans, the company is looking at other options including building a new facility in North Mississippi.
EDGE awarded Eversana a 15-year Expansion PILOT to encourage the company to remain in Memphis, retaining its 315 existing employees and creating 50 net new jobs with an average wage of $42,800. The company would invest $30,000,000 to renovate and expand into 4500 Mendenhall and renovate three other existing facilities at 4550 Mendenhall, 4580 Mendenhall, and 5650 Challenge.
- 15-Year Expansion PILOT
- 315 Retained Jobs and 50 New Jobs with An Average Salary Of $42,800
- $30,000,000 Investment
- $38,231,172 in Total Local Tax Revenue
- $6,579,634 in Spending with Minority/Women-Owned Businesses
Grizzlies owner Robert Pera's New York-based technology company, Ubiquiti, Inc. is looking to set up a distribution facility in Memphis, creating 25 jobs and investing $5,000,000.
Ubiquiti sells products used for internet access, information technology and consumer electronics through a global network of distributors and online retailers. The company is experiencing rapid growth in US sales and is evaluating strategies to better meet this growing demand. Possible plans include expansion of its current distribution facility in Utah, new construction projects in North Mississippi and in Memphis.
EDGE provided Ubiquiti with a 10-year Fast Track PILOT to encourage the company to build-out space at 6200 Global Drive here in Memphis, create 25 new jobs with an average wage of $39,625 and invest $5,000,000 in the project.
- 10-Year Fast Track PILOT
- 25 New Jobs with An Average Salary Of $39,625
- $5,000,000 Investment
- $1,688,895 in Total Local Tax Revenue
- $768,181 in Spending with Minority/Women-Owned Businesses