Pandrol USA is not going to Memphis for a song. The company, which manufacturers and installs rail fastening products including rail clips, crosstie plates and screw spikes, has been all business lately and already has a serious financial commitment in the Tennessee city. It has filed for $5 million in building permits in Memphis since July.
The latest permit, valued at $3 million, deals with an existing office building at 611 Winchester Road. Pandrol USA will remodel the office building and will install injection molding machines. Pandrol USA will bring its North American headquarters to the location. It is expected to invest more than $9 million in capital in the complex. Pandrol USA is currently located in Bridgeport, N.J., but will bring 73 jobs to the new Memphis location.
The Economic Development Growth Engine for Memphis and Shelby County awarded Pandrol USA a 15-year Community Builder PILOT, which is payment in lieu of taxes, which could be worth up to $1.5 million.
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