This company wants to move from Memphis to Collierville and add 70 jobs: A look at its plan
A construction equipment supplier has plans to move its regional headquarters from Whitehaven to Collierville and create new high-paying jobs in the process.
Thompson Machinery Commerce Corp., which is currently located on a 21-acre site southeast of Interstate 240 and Elvis Presley Boulevard, is looking to relocate to a 133-acre parcel of land between U.S. 72, Tennessee 385 and Sycamore Road in Collierville.
Thompson also plans to add 70 new employees within three years, while paying an average wage of $74,240 a year. It currently has 188 employees at its Memphis location.
The company is seeking a 15-year retention payment-in-lieu-of-taxes (PILOT) from the Collierville Industrial Development Board and Shelby County, which was discussed Thursday and will be voted on at a later meeting. The PILOT would also need approval from the Collierville Board of Mayor and Aldermen.
The company plans to invest more than $60 million in developing 53 acres of the expansive site, part of which includes the former Cartwright Nursery Company and was in the Shelby County greenbelt system.
With development planning underway, Thompson expects more than 200,000 square feet of buildings to be constructed on the new campus that will include space for the regional headquarters, training facility for customers and employees, equipment refurbishment, parts distribution, equipment sales and rental, and site technical services.
Kevin Vaughan, the founder of Township Development Services who is representing Thompson in the relocation and potential site development, is thrilled about Thompson's move to Collierville.
“We are very excited about bringing such a stable company and iconic brand to Collierville,” Vaughan said. “Due to site constraints at their existing facility, we were able to sell the Thompson team on the accessibility of the I-269, State Route 385 and Highway 72 corridors in east Collierville that will allow them and their customers easy access to a new modern facility. Given the proximity to Marshall and Fayette County, I’m also pleased that we could retain them in Shelby County.”
Thompson also plans make infrastructure improvements. Pending Collierville officials' approval, the company wants to make major road improvements, including adding a private bridge across Nonconnah Creek for access.
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What is Thompson Machinery and what does this possible relocation mean for Collierville?
Thompson Machinery founded in Nashville in 1944 is touted as the exclusive Caterpillar dealer for Middle Tennessee, West Tennessee and North Mississippi.
Products offered through Thompson include Caterpillar brand heavy construction equipment and power generators, as well as a variety of battery-powered machinery.
Thompson currently employs 188 people at its Memphis location. Company officials said the move will add 70 new employees within three years, paying a median salary of $74,240 a year and bringing a total of 258 new jobs to Collierville.
Thompson also projects the move will increase tax revenue for the town and county. Currently, present tax revenue from the property is less than $3,000 annually split between Collierville and Shelby County. Company officials noted if the project is developed as expected, those revenues will grow over $4 million annually between property and sales tax.
Corey Davis is the Collierville and Germantown reporter with The Commercial Appeal. He can be reached at Corey.Davis@commercialappeal.com or 901-293-1610.
This article originally appeared on Memphis Commercial Appeal: Thompson Machinery wants to move to Collierville, add jobs at new site
