July 19, 2017

EDGE Completes Corporate Headquarters Trifecta

Memphis Business Journal

July 19, 2017

With its latest approved tax break, EDGE has completed a corporate headquarters switcheroo.

Wednesday, July 19, the Economic Development Growth Engine (EDGE) for Memphis and Shelby County board approved a 15-year payment-in-lieu-of-taxes (PILOT) that will save Thomas & Betts Corp. $3.1 million.

Thomas & Betts is the latest piece in a shuffling of Memphis-based corporate headquarters that involves Sedgwick Claims Management Services and ServiceMaster.The shuffle goes like this: When Sedgwick announced it was consolidating its headquarters into a single location at 8155 T&B Blvd. that meant tenant Thomas & Betts needed to find a new space.

Meanwhile, with ServiceMaster moving to Downtown’s Peabody Place, it left a large vacancy at 860 Ridge Lake Blvd.

So when ServiceMaster moves out, Thomas & Betts will move in, freeing up their office space for Sedgwick.

“Thomas & Betts has been a very longtime, major company located in Memphis and Shelby County, so the final piece in keeping them made sense,” said EDGE president and CEO Reid Dulberger.