MEMPHIS, TN (WMC) - Mayor A C Wharton has announced a significant economic statement Tuesday, and sources tell WMC Action News 5 it may have to do with a Global Retailer.
The mayor's office will not confirm, but the Swedish furniture store IKEA is it announcing plans for a Memphis-area store.
"I think it would give us a great variety here in Memphis," says shopper Jessica Jonas.
IKEA is most known for it's affordable and space conscious furniture. Many of the items require assembly by the customer.
Reportedly, the retailer could be looking to move into a 269-thousand square foot space with 1,100 parking spaces behind the Costco on Germantown Parkway in Cordova.
Sources say this new store could add 140 full-time jobs at an average of a $40-thousand salary with full benefits.
"The more competition you have, the better your products will be, it's only going to help the consumer out," says Jordan White.
Some people are asking, Why would IKEA come to Memphis?
Sources say the retailer waited for Memphis to work out some financial woes and may have been drawn by FedEx's international shipping operation. Sources also say Southaven was never in the running as a possible location, and this store would be bigger than the St. Louis IKEA location.
Learn more about the Mayor's Economic announcement Tuesday on WMC Action News 5.