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Mitsubishi Electric Power Products to Receive $34M in Incentives in Memphis

After announcing on Monday that it would invest $200 million to build a new facility in Memphis, Tennessee, Mitsubishi Electric Power Products will receive more than $34 million over 15 years in tax incentives to help fund the expansion. Mitsubishi will create 281 jobs as part of the project.

The company filed for the city and Shelby County's payment in lieu of taxes (PILOT) program. Company president and CEO Brian Heery said tax incentives and logistics led Mitsubishi to select Memphis. The city is a major transportation hub near the busiest cargo airport in the United States.

In its incentives filing, Mitsubishi stated that it was seeking to build the U.S. facility due to a plant in Ako, Japan, that is almost at capacity.

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