Downloaded : 4
Viewed : 286
Memphis, Tennessee has a Round I Enterprise Community (EC) that has, in part, been designated as a
Renewal Community (RC), thus Memphis lost its EC designation when it received an RC designation
on January 1, 2002.
The Memphis RC Course of Action chooses the following strategies:
Reducing Tax Burdens
The Memphis and Shelby County Industrial Development Board (IDB) has implemented the City and
County Payment-In-Lieu-of Taxes (PILOT) Program. The average tax abatement value for one year is
$223,210, according to 1999 PILOT statistics. Also, the average number of jobs created by a PILOT
business is 149.
Improving Local Services