MEMPHIS, TN (WMC) - Tennessee Governor Bill Haslam announced Monday the digital printing and distribution company Mimeo is expanding its operations in Memphis, establishing its headquarters in Memphis.
Currently headquartered in Newark, New Jersey, the move is bringing 300 new jobs to Memphis as well as a $16 million investment in Shelby County.
“This is a great day in Memphis and it's a great day in Tennessee,” Haslam said.
“This is absolutely a great day for the city of Memphis,” said City of Memphis COO Doug McGowen. “It’s an early holiday gift for us quite frankly.”
Mimeo currently employs about 800 workers worldwide, including about 300 at a distribution center in Memphis.
Salaries for those jobs average $59,000 per year.
“This is a company that was here doing business and decided to double down on Memphis,” said Haslam. “It speaks volumes about the workforce and the environment right here in Shelby County and we are very, very grateful."
Joining Haslam for Monday’s announcement were Community Development Commissioner Bob Rolfe, Mimeo CEO John Delbridge and Shelby County Mayor Lee Harris as well as several other community and business leaders.
“We’re hiring immediately today across all levels,” Delbridge said.
The $16 million investment comes with tax incentives of an estimated $2.5 million over the next 15 years, approved by the Economic Engine of Memphis and Shelby County.
“All sorts of jobs from folks that work in the plant, to engineering and executives,” Haslam said. ‘It’s the whole gamut of jobs and that’s what you want in economic development.”
Officials say Memphis and Shelby County had economic momentum. Fortune 500 company Service Master moved to downtown Memphis last year.
“I think we are getting the word out about the opportunities in this community,” Harris said. “Our community is cosmopolitan, without the gridlock, we make running your business smooth and living easy.”
Mimeo ships printed material like brochures, booklets and much more all over the world.
Delbridge said proximity to FedEx’s headquarters was a major factor in the decision to move to Memphis.
“This reinforces what we've been saying as a community that Memphis is a great place to invest, and our time is right now,” said Greater Memphis Chamber Chairman Richard Smith.
There’s no estimated timeline for when the headquarters will officially open in Memphis.
Mimeo chose the Bluff City over Austin, Denver and Louisville for it’s new headquarters.