MEMPHIS, TN (WMC) - City of Memphis hopes to bring another major company to the Bluff City.
Amazon is looking to create a second headquarters, in addition to its existing one in Seattle. Memphis Mayor Jim Strickland retweeted the report, saying "We're on it. We'll absolutely make a bid."
It's a possibility that could have a huge economic impact in Memphis
"The lottery has been the craze the last few years because it has gotten so big, so this is kind of like a city lottery," Red Door Wealth Management financial advisor Fred Hiatt said.
The Amazon headquarters would cost around $5 billion to build, and that alone would be a boost to the local economy.
"If you think about that capitol investment, I mean think about the construction jobs and the people that sell steel and concrete and dry wall and glass," Hiatt said.
Of course, Memphis isn't the only city interested in bringing Amazon into the fold. Plenty of other cities would like to claim the 50,000 additional jobs the Amazon hub expansion is expected to bring.
Skeptics will tell you Memphis is a long shot to land the Amazon expansion, but Hiatt thinks FedEx and other great local resources give the Bluff City a fighting chance.
"Assuming that the distribution part follows along with it, then yes Memphis makes perfect sense," Hiatt said. "It gets me excited, because I was born and raised here, and so for my city I think it could be transformational."
City of Memphis declined to comment further on the story, but they said Mayor Strickland's tweet speaks for itself.