Largest Memphis intermodal firm readies for Collierville move
With a 10-year tax break in hand, the largest intermodal firm in the area is moving forward with its plans to move from Memphis to Collierville.
As the Memphis Business Journal reported in November, IMC Cos. is planning to build a 75,000-square-foot headquarters office in Collierville’s Schilling Farms that it intends to occupy by summer 2021.
On Dec. 9, Collierville’s board of mayor and aldermen approved the company for a 10-year PILOT (payment-in-lieu-of-taxes), which had been approved by Shelby County Mayor Lee Harris on Nov. 18.
About 150 jobs will move from Memphis to Collierville, and 18 jobs will be added within four years, Collierville’s director of economic development John Duncan said. The jobs have a median salary of $65,000 and would be accompanied by an $18.3 million capital investment.
“This is the single biggest capital expense IMC Companies has made in our 38 years in business,” said IMC chairman Mark George, in a news release. “We view this new facility as a strategic investment in the future of our employees, our customers, and our company.” To read more, visit The Memphis Business Journal.
Posted: December 30, 2019