Federal Express

Situation
Federal Express is one of the largest service organizations in the world focusing on overnight delivery. Over the years, Federal Express has gone through several expansion projects ranging from building their World Tech Centers to expanding the hub, located here in Memphis. When they began to examine programs that could be beneficial to them during these expansion periods, they wanted to apply for the economic incentives available to them. They also wanted to utilize these savings opportunities to assist them in their city selection process for future expansions.

Solution
Federal Express's hub remains in Memphis today because of the central location, the availability of the workforce, a strong relationship with the local airport authorities, and economic incentive programs that make staying and expanding in Memphis worthwhile. These qualities have fueled major expansions in the Memphis area, including a recently completed large facility in Collierville, Tennessee, a suburb of Memphis. They have received a multiple year tax freeze as part of the Payment-In-Lieu-Of-Tax (PILOT) Program.

Results
Continued use of available incentive programs maximizes ongoing cost-effective growth. In addition to the PILOT Program, Federal Express has used the Tennessee Industrial Infrastructure Program (TIIPS) and received Industrial Revenue Bonds.

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UT Medical Group

Situation
The UT Medical Group is a Physician's Group practice comprised of 400+ doctors. They are a non-profit, non-tax supported practice that functions as the private practice arm of The University of Tennessee College of Medicine. The school has been located in Memphis for over 100 years. The private practice was planning the construction of a new facility that would total 110,000 square feet. This would be their largest expansion ever, and wanted to apply to receive bonds from the government to finance this new expansion.

Solution
UT Medical worked with the Economic Development Department of Memphis and applied to receive Industrial Revenue Bonds. They were approved, and these bonds were used to finance the new facility in Germantown, Tennessee, a suburb of Memphis.

Results
This new facility was opened in 2000 and is a multi-specialty complex located in Germantown near East Memphis and Cordova.

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