Memphis, Shelby county leaders debate linking $17/hour minimum wage to PILOTs [View all]

Some Memphis City Council members and Shelby County commissioners are poised to propose a minimum wage for companies that get payment in lieu of taxes (PILOT) incentives.

Proposals are still general so far and not on the agenda of either body yet. But they would generally do away with a 75% property tax abatement no matter what the pay is, as long as it isn’t below an average of $13 an hour with benefits.

That current 75% abatement standard used by EDGE — Economic Development Growth Engine of Memphis and Shelby County — to award PILOTs would be replaced with a sliding scale that would lower the percentage of the abatement as the percentage of jobs created or retained below a higher wage goes up.

The proposals emerged Thursday, April 15, at the second of two joint meetings by the council and commission on changing the terms of economic development incentives.

Read more: https://dailymemphian.com/section/business/article/21352/proposal-for-17-an-hour-minimum-for-maximum-pilot