MEMPHIS, Tenn. — Support for the economic development growth engine, also known as EDGE, is sputtering because of competition across state borders.
Councilman Harold Collins said, “That to me is forward thinking. And until we get to that point, we will always be at a competitive disadvantage.”
Collins says EDGE can’t show how much of an edge tax incentives give the city. The idea is to work with business here that will generate more revenue for Memphis.
Councilman Janice Fullilove said, “Olive Branch would be nothing without Memphis.”
EDGE makes projections on how much money each company is supposed to generate, but failed to project how to get companies to stay.
Collins said, “For the life of me I can’t understand why the leadership would not be forward thinking enough to go and address this issue with our general assembly knowing the proximity we are in.”
Reid Dulberger, head of the EDGE program, agreed.
“I think the councilman’s notion that over a period of 30 years we have not prepared well for the suburbanization of Memphis is a very true one,” Dulberger said.
There are currently 60 companies getting PILOT tax breaks, but they only check in on about ten years.
Everyone agrees that number could go up as they work to get a better idea of how to fix the suburban expansion that’s costing Memphis real money.