MEMPHIS, TN (WMC) - With a deadline quickly approaching, City of Memphis and Memphis City Council continue to work out a proposal to showcase why Amazon's second headquarters should call the Bluff City home.
The city council passed a resolution with the specific incentives Amazon would receive if it chooses to come to Memphis. Those incentives include a 30-year PILOT (Payment-In-Lieu-Of-Tax), a $50 million incentive connected to job growth, as well as $10 million used to enhance key services like public transportation.
"$50 million, we believe, is a bold statement," Memphis Chief Operating Officer Doug McGowen said. "$5,000 per job, up to 10,000 jobs."
It's a hefty incentive package, but council members believe it's worth it.
"We'd love to have them here. We want them to come here and see what we have to offer," McGowen said.
Amazon could potentially bring 50,000 jobs to Memphis, which is something Memphis City Council Chairman Berlin Boyd said the city needs.
"If we can afford to do it, let's try to do it, because it brings a positive impact to the City of Memphis," he said.
The deadline for City of Memphis to submit its proposal is October 19, 2017. A team is working to put it together, along with support from other local municipalities.