In Fall 2016, EDGE helped W.M. Barr reshore manufacturing operations from China, which will result in 40 new full-time jobs. A manufacturer of specialty cleaning and home improvement products, Memphis-based W.M. Barr will invest nearly $12 million at its Presidents Island facilities.
Barr received an Expansion PILOT from EDGE to incentivize the investment of $10 million in new machinery & equipment and $ 2 million in a 10,000 square foot expansion at the 2105 Channel Avenue facility. The 40 new jobs, added to the 79 W.M. Barr already employs, will average $52,800 per year in salary and overtime. EDGE anticipates the new project will result in nearly $8.8 million of new local tax revenue across the term of the PILOT. In addition, W.M. Barr committed to spending $597,815 with City-certified Minority and Women Business Enterprises (MWBEs) and County-certified Locally-Owned Small Businesses (LOSBs)
Under the Jobs PILOT program, applicants seeking office and industrial space can receive up to a 75 percent abatement on property taxes for up to 15 years if the applicant meets specified program requirements, such as new jobs minimum and at least $10 million capital investment.