Wright Medical Group Seeks Tax Breaks to Relocate to Memphis (Memphis Daily News)
Arlington-based Wright Medical Group Inc. is seeking tax freezes to retain 225 jobs, add 35 new jobs and invest $10.6 million into a new headquarters on Cherry Road in East Memphis.
The Economic Development and Growth Engine for Memphis and Shelby County has called a special board meeting Wednesday, Aug. 7, to consider the company’s request for a 15-year payment-in-lieu-of-tax incentive.
EDGE said the project would create $19 million in new tax revenue for Memphis and Shelby County. EDGE said the average salary of the 35 new employees would be $70,000 and the average salary of the 225 retained employees would be $108,000.
The medical device maker said in June, when it announced it was selling its hip- and knee-implants business, OrthoRecon, to a unit of Shanghai-based MicroPort Scientific Corp., that it would remain headquartered in Arlington.
However, the company said in its application to EDGE that the sale is necessitating the move and that it is including multiple sites for a possible relocation, including out of the state and the wooded office park at 1023 Cherry Road.
The company said barriers t...
