(Memphis) Two companies are looking to stay in Memphis and pump 20 million dollars into the city.
To do it, they’ll add labs and greenhouses at the Agricenter.
Folks at the Agricenter were all smiles Monday at the promise of two mutli-million dollar expansion projects.
Bayer CropScience and Helena Chemical Company have been in Memphis for years and now they are both looking to grow in Memphis.
“They are doing it right here without any incentives from the tax payers,” said John Charles Wilson, president of Agricenter International.
It’s a change of pace, Memphis and Shelby County often give tax breaks to companies to call Memphis home.
Shelby County Mayor Mark Luttrell calls the news a victory.
“It’s a tough financial time financially. We spend as much money to keep companies here as we do and to recruit companies,” said Luttrell.
The companies will do agricultural research and produce seeds and supplies to help farmers grow larger crops; bringing construction jobs when they start building and research jobs, but it doesn’t stop there.
“These types of research companies have associated companies they work with that also generate jobs. It’s a domino effect,” said John Moore, CEO of the Greater Memphis Chamber of Commerce.
With farmers being able to grow bigger crops, the Agricenter says there’s a benefit every Mid-South family will see at their dinner table and in their wallets, a lower grocery bill.