MBJ: Memphis manufacturer approved for PILOT
A Memphis manufacturer is one step closer to a 10,000-square-foot expansion.
The Economic Development Growth Engine (EDGE) for Memphis & Shelby County approved a payment-in-lieu-of-taxes (PILOT) application for W.M. Barr & Co. at its Wednesday, Sept. 21, meeting.
W.M. Barr, a paint remover, solvent and household cleaning product manufacturer, will expand its operations on Presidents Island in order to bring outsourced jobs back to Memphis from China. The company currently occupies one distribution and two manufacturing facilities on Presidents Island.
With a projected capital investment of $12 million, $10 million will go to manufacturing machinery and the remaining $2 million for the renovation of the existing structures.
The expansion will also create 40 new jobs while retaining 179, for annual average wages of $52,799 for the 219 employees.
Over the course of the PILOT term, Memphis and Shelby County will receive more than $8.8 million in taxes, with $1.1 million in tax abatements.