Memphis TN provides great yields for many types of investment property. Here are some of the headlines and economic statistics explaining why Memphis is such a great investment destination.
With an increasing population of 1.3 million people in the MSA and 680,000 people in the city area, Memphis is currently showing amongst the best growth and investment stats of any US city due to its economy, affordability and comfortable average temperature of 22.2 degrees Celsius.
Memphis has a fast growing Biotech industry with an estimated 10,000 new jobs on the way by 2017 in this high paying sector.
We often refer to Memphis as the transportation capital of the US being it is the Fedex hub for the USA and the busiest air cargo airport in the world. It has the largest number of trucking companies in any US city, it is the centre where five Class 1 railways meet and it is the 2nd largest inland port in the USA (the Mississippi River runs through it).
It is an education centre with fourteen colleges and universities.
Mitsubishi Chemical is constructing an electrolyte manufacturing facility (used for rechargeable batteries) which is expected to add $135 million in investment.
Toyota is resuming construction of its new plant in Tupelo, MS which lies just outside the MSA and is expected to have a big impact on bringing auto manufacturing support business into the MSA.
11 non-manufacturing industries recently reported growth in the Memphis MSA including; educational services, finance and insurance, scientific & technical services.
The Memphis economy is home to a wide range of businesses in distribution, biotech, pharmaceuticals, medical devices, banking, and agri-business. There is a significant tourism industry sector as it is the home of Elvis (Graceland), Sun Records and the birth place of Rock and Roll (BB-King).
Many major employers are headquartered in Memphis such as Fedex (35,000 employees), International Paper, Electrolux, Autozone, St Judes Children’s Research Hospital, Service Master and Morgan Keegan.
Nike and Electrolux have recently spent enormous capital to further develop their infra-structure in Memphis. In particular, Nike are currently completing an additional 1.3 million sq feet of warehouse space (‘yes’ 1.3 million sq ft) to fully reap the benefits of being close to Fedex and Electrolux have recently completed moving their head office to Memphis.