There are numerous recommendations in the Port of Memphis Master Plan that are focused on maintaining and growing the level of economic impact that exist currently as a result of operations on Port jurisdiction properties. In addition to the recommendations of industries to target as potential economic development partners, the Port Master Plan study also provides recommendations geared towards sustaining existing economic activities and enhancing future development opportunities. In an effort to help the Port of Memphis focus on the highest and best use of existing and potential resources, the top development and maintenance action item recommendations are presented in the linked documents.
Presented at a joint meeting of the Memphis & Shelby County Port Commission and EDGE, a new master plan for the Port of Memphis calls for infrastructure upgrades to Presidents Island and a short, middle, and long-range plan to help maximize the impact of 2,300 acres of under-developed industrial land in the adjacent Frank C. Pidgeon Industrial Park.
The plan offers recommendations for a wide array of topics, including facility expansions, property redevelopment, economic impact, and environmental analysis, as well as target tenant identification in industries such as steel finishing and production, agricultural processing and food production, intermodal logistics and distribution, waste paper and plastics recycling, and empty container or trailer pools.
Currently, the Port of Memphis supports more than 9,000 direct jobs and an additional 13,000 indirect jobs in the Memphis area with an annual economic impact of $9.3 billion to the local, regional, and statewide economies. The potential build out of Frank C. Pidgeon Industrial Park could yield more than 6,000 new direct and indirect jobs, more than $655 million in additional economic impact, and approximately $8 million per year in local tax revenues.
“I believe this is a significant project for us as we seek to repurpose the port and position it for continued use and viability for the next 20 to 50 years,” said Port Commission and EDGE board member Larry Jackson.
The EDGE Board of Directors approved a $327,500 contract for a comprehensive master plan study for the Port of Memphis. The study will include Presidents Island, the Frank C. Pidgeon Industrial area, and the McKellar Lake Harbor. A team led by the Pickering Firm will conduct the study.
The plan will offer recommendations for a wide array of topics, including facility expansions, property redevelopment, economic impact, environmental analysis, and target tenant identification. Pickering will also lead public meetings and presentations to collect input from key project stakeholders along with community members. The plan will take close to six months to complete.
“I believe this is a significant project for us as we seek to repurpose the port and position it for continued use and viability for the next 20 to 50 years,” said Port Chairman and EDGE board member Johnny Moore, Jr.
The Mississippi River Commission (MRC) held a public meeting Tuesday, March 24, on board the Motor Vessel MISSISSIPPI to discuss issues affecting the U.S. Army Corps of Engineers and Commission programs and projects along the Mississippi River and its tributaries.
Docked at the Beale Street Landing, the public meeting was attended by representatives of the Memphis and Shelby County Port Commission, the City of Memphis and various other local and state organizations.
Randy Richardson, EDGE Vice President and Executive Director of the Memphis and Shelby County Port Commission, gave a brief update of the Port.
Following the meeting, the MISSISSIPPI left for its annual High Water Inspection trip from Memphis to Tunica, MS.
For more information on the MRC and the March Public Meeting visit the MRC website.
Frank C. Pidgeon Industrial Park was completed in 1967, but it’s only now, four-plus decades later, that the property is finally realizing its full potential.
More than four decades after being completed, the Frank C. Pidgeon Industrial Park is finally realizing its full potential with tenants such as Canadian National Railway Co.
The 3,500-acre industrial park was developed when Memphis and Shelby County paid roughly $4.5 million to buy the land in the late 1950s after city, county and Port Commission leaders saw the need for a large industrial park following the creation of Presidents Island.
“The concept was very innovative for its time and very impressive,” said Randy Richardson, vice president of port and industrial properties for the Economic Development Growth Engine of Memphis and Shelby County and executive director of the Port Commission. “I’m sure at the time when they purchased it they thought it was a lot of money, but if you look at it over the long term the return on investment is significant. But you had to have the vision to look that far into the future.”