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Renew seeks tax break for $11.3 million expansion adding 190 new jobs

NewYork-based Inc. is seeking a tax break for an $11.3 million expansion of its Memphis, TN, printing operation, reports the Memphis Business Journal.

The expansion would create 190 new jobs with an average salary of $53,347 (including benefits) according to an application the company submitted to the Memphis-Shelby County Industrial Development Board.

Currently Mimeo employs 324 people in Memphis. The expansion of its present facility would allow the company to grow to 514 employees in that city by 2016, and is expected to add $10.1 million in payroll per year for a total of more than $81 million over eight years.

The company's original expansion in Memphis was directly related to Memphis-based FedEx Corp. Its expansions into New Jersey and California were done because both locations were close to FedEx regional hubs.

Mimeo provides online, on-demand printing for business documents, marketing materials and CD/DVD duplication. Memphis was the company's only production and distribution center originally; recently, Mimeo has opened facilities in Newark, NJ, and Hayward, CA, over the last three years.

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