MEMPHIS, Tenn. (localmemphs.com) – In Wednesday’s Ransom Note: one step forward and one step back. That sums up news Wednesday about a couple of Memphis employers.
First the good news. It looks like Amazon is planning to expand bigtime in Memphis. The Daily Memphian says “Project Iris” would be huge: five stories high with each floor almost a million square feet. It would be located right on the Frayser-Raleigh line on 100 acres of land off New Allen Road and could create 1,000 jobs.
The Memphis Business Journal went a step further saying an Amazon contractor is behind the deal.
Then we learned from the same publication Wednesday that the big Mitsubishi electric plant is in trouble. The same Memphis plant taxpayers gave $45 million in tax breaks and infrastructure grants just eight years ago.
212 people work there making an average $68,000 a year. Mitsubishi says everything is on the table, including selling the plant to make it more profitable.
Here’s hoping they find a way to stay put.