Master Plan Approved to Guide Port of Memphis, Help Recruit New Industry
The Port of Memphis, Tenn., is getting a new blueprint for its growth for the next 20-plus years.
The Economic Development Growth Engine of Memphis and Shelby County on Nov. 15 approved a $327,500 contract with Pickering to lead the effort.
The board also approved a jobs PILOT for PeroxyChem, which will invest $9.6 million and create 15 jobs at a plant at 335 Stiles Drive. The partial tax freeze, called a payment in lieu of taxes, will save PeroxyChem $692,000 in taxes over seven years and increase local taxes by an estimated $788,000.
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Pickering and its team will survey existing industry and infrastructure on Presidents Island and Frank C. Pidgeon Industrial Park, with particular attention to repurposing aging industrial properties on Presidents Island.
The consultants will come up with recommendations on new industry that might be lured Presidents Island and the types of incentives necessary to attract them.
Memphis Port Commission Executive Director Randy Richardson said the last master plan was completed around 2008 and dealt with the Pidgeon property, which was then mostly undeveloped.
Since then Electrolux located a manufacturing facility there, the Tennessee Valley Authority is building a new natural gas-fired electricity generating plant, and a CN/CSX intermodal rail gateway has expanded.
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Richardson said the Pickering effort is broader in scope than a master plan because it gets into the strategy of reviving and growing business on Presidents Island.
Port Commission chairman and EDGE board member Johnny Moore said, “I think this is a significant project for us as we seek to repurpose the port” and position it for continued viability for the next 20 to 50 years”.
Pickering’s master plan project manager Bob Pitts said the strategic vision process will include a workshop probably in March bringing together experts to help identify types of businesses to be recruited.
“We think it’s important to have a vision of what we want to do,” Pitts said.
Pickering’s team will include Moffatt & Nichol, Younger Associates, The Carter Malone Group, Geotechnology and Tioga.
The plan will take about six months to complete.
