MBJ: Collierville Label PILOT moves forward, city still in competition with South Carolina
“A Collierville PILOT is one step closer to approval.
CCL Label, a Canadian-based packaging and label company that has a 111,000-square-foot building on Progress Road in Collierville, submitted a payment-in-lieu-of-taxes (PILOT) application in February for an expansion.
The company presented its application to the Industrial Development Board (IDB) for the Town of Collierville on Feb. 25. On March 17, the IDB approved the eight-year PILOT in an 8-0 vote.
Collierville is competing with Clinton, South Carolina, on the deal. If CCL Label chooses Collierville, the project would mean the construction of an 85,000-square-foot building on a nine-acre parcel just south of the existing CCL Label facility. The project is a joint venture with CCL Label and Turkish label firm, Korsini.
CCL Label currently employs 186 people in Collierville with average annual wages of $69,892. If the expansion occurs, it would add 130 new jobs over the course of six years. The total spend in land, construction and equipment would be a nearly $24 million investment.