Supply Chain Council of European Union |

Mitsubishi Electric to lay off employees, sell factory in Memphis

The state-of-the-art, transformer manufacturing plant just opened six years ago, after the company received tens of million of dollars in tax incentives to do business in the Bluff City. Mitsubishi Electric was awarded a $34 million PILOT, Payment in Lieu of Taxes, in 2011. Basically, they cut a deal to get a break on property taxes for 15 years. The state of Tennessee came up with an additional $11 million infrastructure grant.

Related posts

Lab-grown fish startup BlueNalu lands $60 million to build out San Diego factory


Fox Factory Holding Corp (NASDAQ:FOXF) Receives Average Recommendation of “Hold” from Brokerages


Simple Foods banking on new factory