VOL. 132 | NO. 224 | Friday, November 10, 2017
Pennsylvania-based Chemical Manufacturer Seeking PILOT for New Memphis Plant
By Patrick Lantrip
Peroxychem LLC, a Philadelphia, Pennsylvania manufacturer of hydrogen peroxide, peracetic acid and persulfates, is looking to expand into the Memphis market.
The chemical manufacturer is seeking a seven-year Jobs PILOT that would enable it to construct a 108,000-square-foot facility at 335 Stiles Drive.
According to the company’s application with the Economic Development Growth Engine for Memphis and Shelby County, Peroxychem will invest a total of $9.6 million into the Memphis facility that includes $2.7 million in construction costs and $4.3 million to purchase manufacturing equipment and other personal property. The remaining $2.4 million in soft costs are not eligible for the tax abatement.
As a result of the new facility, Peroxychem will create 15 net new jobs with an average annual salary of $56,667 excluding benefits.
If approved, the Memphis facility would produce peracetic acid, a disinfectant used in many bacterial control applications from food and beverage to wastewater treatment.
EDGE staff estimates the project will generate $788,868 in local tax revenues the city and county currently do not get during the term of the PILOT, while saving the applicant $692,253 for a 1.14 cost-to-benefit ratio.
Currently, Peroxychem employs more than 500 people worldwide and has facilities in North America, Europe and Asia that produce chemical solutions used on energy, environmental, food safety, paper and polymer products.
The EDGE board will review Peroxychem’s application during its Wednesday, Nov. 15, meeting.