After meeting rigorous requirements, a 42-acre industrial property in Memphis has earned designation as a “shovel-ready” Select Tennessee Certified Site by the Tennessee Department of Economic and Community Development (TNECD).
Located on Presidents Island and bordered by Harbor Avenue and Channel Avenue on the north and south, and by Buoy Street and the U.S. Navy’s William B. Morgan Large Cavitation Channel research and testing facility on the east and west, the vacant site is currently owned by the Economic Development Growth Engine of Memphis & Shelby County (EDGE). EDGE, the Greater Memphis Chamber, and the Port of Memphis worked together to achieve the certification, which adds the site to the list of properties that TNECD markets to site development consultants and business leaders as ready for development.
“Partnerships have been a key strategy throughout this journey,” said EDGE VP of Operations Dr. Joann Massey. “Collaboration with the Greater Memphis Chamber, the City of Memphis, and our team at the Port of Memphis has been instrumental – with a particular focus on economic development initiatives and driving positive change within our community.”
The site, known as The EDGE Property at Presidents Island, is strategically located, with easy access to the 4 “Rs” — river, rail, runway, and road. The property is adjacent to the CN railway, with established agreements for switching between BNSF and Union Pacific railroads; has easy access to the Port of Memphis, the fifth largest inland port in the nation; is approximately five miles from Interstate 55; and is 15 miles from Memphis International Airport, the second busiest cargo airport in the world.
“The port alone contributes a substantial $6.2 billion economic impact, highlighting the advantage of this land being the last undeveloped site of its magnitude on Presidents Island,” said Memphis & Shelby County Port Commission Executive Director Randy Richardson.
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