MEMPHIS, Tenn. — Millions of dollars in tax breaks were granted late Wednesday afternoon to several Shelby County businesses.
ServiceMaster, Turner Dairy Foods and TAG Truck Services all received breaks and grants from the EDGE board.
The Economic Development Growth Engine said by giving the breaks they’re investing back in the community, which is constantly seeing pressure from Mississippi, in neighboring DeSoto County.
Part of Turner Dairy, Prairie Farms, is a longtime business just a block or so from Overton Square. It has been located on Madison for decades. The company, which is expanding, told EDGE they had so many incentives from DeSoto County they were considering moving there.
“It’s very important to us. We have a home here — most of us are Memphians,” said Jim Turner.
Turner, the general manager of Prairie Farms, was pleased the EDGE Board approved a seven-year jobs pilot that will save his company more than a million dollars in taxes.
Turner’s company is expanding, adding 25 jobs to its staff of more than 130. While Turner said staying in Memphis was important, neighboring DeSoto County has recently been heavily vying for his company. However, he did tell the board he estimated it would cost his company some $30 million to move. Turner wouldn’t say what DeSoto County offered his company.
“Mississippi is very interested in economic growth. They go pretty aggressively at things,” explained Turner.
“Pretty much every project we work on now it feels like DeSoto County is coming more into the mix.”
Mark Herbison, the senior vice president of economic development for the Memphis Chamber of Commerce, said Shelby County has to do whatever it can to stay competitive for jobs, especially the kind of jobs gained and kept Wednesday.
Turner Dairy is adding manufacturing jobs with an average salary of $51,000.
WREG asked why the county is dishing out all these major breaks with less immediate revenue when DeSoto County is a neighbor to Shelby County where residents coexist.
“We call it coopitition. We work together on things like the product, the workforce, the infrastructure, all the things everybody uses, but when it comes to projects and jobs we do compete with one another,” exposed Herbison.
ServiceMaster, not an original Shelby County-based company, relieved nearly $3 million in breaks and grants to help furnish its new location in Downtown.
TAG Truck Enterprises will received more than $6 million in breaks to move to a new location.