The American Queen Steamboat Company is no longer headquartered in Memphis.
According to the Memphis Business Journal, the company moved to New Albany, Indiana.
City of Memphis issued American Queen a 10-year, $9 million loan in 2012.
Since then, the company has paid the loan back in full with interest.
American Queen said Memphis is one of its most popular ports and Mayor Jim Strickland said he is sad to see the company leave.
"I did not know that they were leaving until today," Strickland said Tuesday. "But we will work really hard to fill that gap. We are working really hard to bring more businesses to Memphis."
The American Queen and the new American Duchess will still come through Memphis.
The company said there will be 67 sailings that either begin or end in Memphis in 2018.