21 JULY 2011www.bizjournals.com
IDB approves six PILOTs in final meeting
Edited by : AL CIRCLE
2 min read
The Memphis-Shelby County Industrial Development Board approved five payment-in-lieu-of-taxes applications Wednesday afternoon that will result in the creation of 259 new jobs, while approving a retention PILOT that will save 246 jobs at the Memphis operation of San Francisco-based McKesson Corp.
Penn A Kem LLC, Memphis Specialized Operations, Jordan Aluminum Extrusion Co. LLC, Trane and Praxair Inc., all received approval for their PILOT applications.
Trane will invest $15 million to lease and renovate a 600,000-square-foot warehouse and distribution facility at 5200 Tradeport Drive that would employ 146 people.
Penn A Kem LLC, is planning to spend $28 million on manufacturing machinery that would enhance new product development in its Memphis research and development department. That project is estimated to create 49 new jobs. Memphis Specialized Operations will invest $21 million to build a 26,000-square-foot lab at 45 S. Dudley. The facility will provide research and development for products requiring U.S. Food and Drug Administration testing, and is estimated to create 22 new jobs.
Jordan Aluminum is planning to invest $7.2 million to build a 40,000-square-foot building at 4661 Burbank Road that would allow the company to further process the aluminum products the company currently fabricates at its existing facility. Jordan Aluminum currently employs 46 people and would create 17 new jobs through the expansion.
Praxair will invest $46.4 million to build a new air separation plant and a storage area in Frank C. Pidgeon Industrial Park, creating 25 new jobs. Praxair currently employs four people locally.
Penn A Kem LLC, Memphis Specialized Operations, Jordan Aluminum Extrusion Co. LLC, Trane and Praxair Inc., all received approval for their PILOT applications.
Trane will invest $15 million to lease and renovate a 600,000-square-foot warehouse and distribution facility at 5200 Tradeport Drive that would employ 146 people.
Penn A Kem LLC, is planning to spend $28 million on manufacturing machinery that would enhance new product development in its Memphis research and development department. That project is estimated to create 49 new jobs. Memphis Specialized Operations will invest $21 million to build a 26,000-square-foot lab at 45 S. Dudley. The facility will provide research and development for products requiring U.S. Food and Drug Administration testing, and is estimated to create 22 new jobs.
Jordan Aluminum is planning to invest $7.2 million to build a 40,000-square-foot building at 4661 Burbank Road that would allow the company to further process the aluminum products the company currently fabricates at its existing facility. Jordan Aluminum currently employs 46 people and would create 17 new jobs through the expansion.
Praxair will invest $46.4 million to build a new air separation plant and a storage area in Frank C. Pidgeon Industrial Park, creating 25 new jobs. Praxair currently employs four people locally.
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