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Memphis City Council OKs Electrolux bond issue


The Memphis City Council  has approved a $20 million bond issue for Electrolux Appliances' forthcoming move to the city.

The unanimous vote occurred Tuesday, Jan. 18.  
 
In December, the company announced it would be moving their cooking manufacturing operations to Memphis. When the project is complete, Electrolux will occupy a $195 million LEED-certified facility that will include manufacturing and office facilities. 

Electrolux has committed to creating 1,240 jobs for their manufacturing facility that will be located in Pidgeon Industrial Park. In addition, it is expected that over 2,250 supplier jobs will be created either onsite or in very close proximity of the new Electrolux facility.


The State of Tennessee has committed over $100 million in bringing this project to Memphis/Shelby County. The City of Memphis and Shelby County will need to approve $20 million bond issue each before January 31 in order to meet the Electrolux time schedule.

--Amy Daniels
Posted: 1/18/2011 5:08:12 PM | with 0 comments



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THE M BLOG
The latest news from the Greater Memphis Chamber. For more information, contact Director of Communications Christina Meek at (901) 543-3504 (cmeek@memphischamber.com) or Communications Specialist Jenny C. Fish at (901) 543-3558 (jfish@memphischamber.com).

 

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