Memphis’ Economic Development Growth Engine has reportedly bestowed a generous amount of corporate welfare upon Auto Zone’s headquarters. This, according to The Daily Memphian, which reported the auto parts retailer will receive a 15-year payment-in-lieu of-taxes (PILOT) incentive, via EDGE. The paper also reported the company will expand its…
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Memphis officials gave IKEA nearly $10 million in incentives to set up shop there, but company officials reportedly can’t do what they promised. So, IKEA officials are giving up some of their previously approved 11-year tax abatement, according to The Daily Memphian. IKEA did not hire the number of jobs…
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Memphis taxpayers may soon know less about the companies that want corporate welfare in exchange for expanding or relocating their business to Memphis, according to The Memphis Commercial Appeal. This, the paper went on to say, depends on a pending opinion from the state attorney general and how he interprets…
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There’s a lot of tussling going on in Memphis as the city’s movers and shakers debate the best ways to disburse corporate welfare. According to the Memphis Daily News, a seven-member city group is studying the effectiveness of EDGE – the city-county Economic Development Growth Engine. EDGE hands out tax…
Read More Memphis and Shelby County have an unelected board of 11 people who have enough power to grant millions of dollars in tax abatements to corporations. Shelby County Commissioner Heidi Shafer told The Tennessee Star that city and county officials aren’t getting results under the current way of doing things. “There…
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