Choosing the right location to start your business can be tricky. From the cost of starting in a new city to figuring out the logistics and everything in between, you’ve got a lot on your plate. Fortunately, you’re already ahead of the game because you’ve got the team at Jones Aur Commercial Real Estate on your side.
Memphis, Tennessee, is a thriving business hub located in the heart of the Midsouth. With the strong infrastructure to support your logistical needs, a low cost of business and living, and a legacy of opportunity for small businesses to grow into industry giants, you’ll find your next office home in Memphis. From our desk to yours, here’s why Memphis is the best site for your business and how we can help you find the perfect location for your needs.
Location & Infrastructure
Did you know that 75% of the United States can be accessed within a 48-hour drive from Memphis? This city is a central location perfect for businesses looking to move products across the country with speed and convenience.
The Memphis International Airport: Home to shipping giant FedEx, the Memphis International Airport handles almost 5 million metric tons of cargo. This newly renovated facility makes it easy for you to import and export your business’s materials and products quickly and easily. The airport also offers non-stop flights from six commercial airlines, so your next business trip will be a breeze.
Major Highways: Memphis is located at the crossroads of no less than seven major interstate highways. I-40 runs through the heart of the city and is the third busiest trucking route in the country, with over 400 trucking companies located here.
Built-In Business Incentives
As a thriving business center, Memphis provides a wide range of business incentives at the state and local levels. Memphis encourages new businesses to join our network with these major bonuses for self-starters.
Tax Incentives: The state of Tennessee offers up to $4,500 in tax breaks for each new employee when you meet specific criteria for your business. You may also get a state discount for sales tax on utilities when you work in manufacturing. At the city level, you could benefit from the Memphis/Shelby County Payment in Lieu of Tax which allows the city to pause your property taxes after you meet certain requirements. The city also offers benefits for employers engaged in international trade.
Tennessee has no property or state income tax, so your money goes directly into your pocket, and the same goes for your employees.
Infrastructure/Utility Incentives: Memphis City provides grants for businesses that allow you to pay for utility and infrastructure needs like water, sewer, rail, gas, and more. Through the city’s General Manufacturing Credit, you may be eligible for utility credits just by conducting your business in the Tennessee Valley.
Financial Incentives: Through the state of Tennessee, you can apply for a wide range of grant funding and low-interest loans that could help you take your business to the next level. The Development Loan Program offers up to $150,000 in loans when applied toward building renovation. The TVA Performance Grant provides funding to businesses that invest in the Midsouth when you create at least 25 or more jobs for the community. These are just two examples among many – the Memphis state, and local governments are all about boosting business!
Low Cost Of Living and Business
Memphis is one of the most affordable cities to live and conduct business in the country. Besides the number of financial incentives and tax exemptions the state and city offer, this low cost of living is another major reason to build your business in Memphis.
Year after year, Memphis is approximately 12% lower than the national average when it comes to the cost of living. For anything from property, to groceries, to utilities, Memphis is cheaper than most other cities in the country.
Great Opportunity for Minority-Owned Businesses
Memphis is an excellent starting point for minority-owned businesses and is building a legacy for providing women and African American entrepreneurs with the tools needed for success. The Black Enterprise Magazine rated Memphis #1 as the best city for black-owned businesses, and the city has seen an influx of female-owned businesses in recent years.
The city also makes it easy for minority-owned businesses to thrive by providing certifications and funding. The Mid-South Minority Business Council protects the interests of minority-owned businesses and works to certify eligible companies as such. A Memphis-based non-profit recently launched the Memphis Small Business Opportunity Loan Fund aimed at helping entrepreneurs who might not otherwise qualify for traditional bank loans.
Jones Aur: Here For Your Business
When you decide to bring your new business to Memphis, you’ll join the likes of FedEx, AutoZone, and International Paper – that puts you in good company! With the team at Jones Aur by your side, you’ll find the perfect location within the Midsouth to develop your business with success.
Our team simplifies the commercial real estate process, so you can focus on what really matters: building your trade. We bring landlords, tenants, investors, and developers together to work towards common goals and shared interests. Whether you’re renting, buying, selling, or building, Jones Aur will help you find the best value for your investment.