AB Mauri Fleischmann’s Co. is seeking a retention incentive from the Memphis-Shelby County Economic Development Growth Engine Board that would allow it to grow its yeast manufacturing facility in the Frank C. Pidgeon Industrial Park.
The company is seeking an 8-year payment-in-lieu-of-taxes abatement for a $10.5 million expansion in new manufacturing machinery and equipment. The PILOT would abate 60 percent of city and county tangible personal property taxes for 8 years. The company is asking for a 4-year ramp-up period.
This would keep 47 jobs in Memphis and create five new ones. The new jobs would have an average salary of $73,000 annually.
AB Mauri Fleischmann’s investment would expand output and make the facility more cost competitive.
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