VOL. 8 | NO. 25 | Saturday, June 13, 2015
Machinery Parts Maker Seeks Tax Incentives for Memphis Distribution Center
By Amos Maki
A Michigan-based manufacturer of belts and hoses is seeking local tax incentives for a Memphis distribution center.
Dayco Products Ltd., which has filed a payment-in-lieu-of-taxes application with the city-county Economic Development Growth Engine, says the center would employ 174 workers.
Other cities under consideration for the project include St. Louis, Louisville, Ky., Indianapolis and Nashville. Consideration is also being given to Southaven and Byhalia, Miss.
Dayco Products is a global leader in the research, design, manufacturing and distribution of a broad range of belts, hoses and hydraulics equipment for the automotive, trucking and industrial markets as well as the automotive aftermarket.
Dayco operates a fully integrated global network of manufacturing facilities, distribution centers, technical centers and sales offices. The firm’s North American headquarters is in Troy, Mich., while its European/African headquarters is in Torino, Italy.
The EDGE board is scheduled to vote on the company’s PILOT request on Wednesday, June 17.