Vanport, Pa.-based KMA Manufacturing won a tax incentive this week that will help the steel fabrication and manufacturing company add 25 new jobs and invest $1.8 million in personal property in Memphis.
The company got a four-year tax freeze for the project, which it says will create $432,026 in new tax revenue for Memphis and Shelby County. The company plans on using the capital investment and new employees to expand its Memphis operation to a new facility at 1207 Riverside Blvd.
KMA currently operates a 28,000-square-foot facility at 2270 Channel Ave. and hopes to increase its Memphis employment from 9 to at least 34 with an average annual wage of $39,374.
Also this week, local economic development officials learned that Land & Timber Resources LLC, an Arkansas-based entity, is looking to purchase at least 5,000 acres on Presidents Island. The company has a letter of intent to buy the land, and the local Port Commission has tapped a committee to look into the sale.