Strictly Business - In case you missed it, here's a look at this week's highlights

Strictly Business – In case you missed it, here’s a look at this week’s highlights

In case you missed it, here’s a look back at a few business highlights for the past week.

Unemployment rates for counties in West Tennessee

Labor force estimates for West Tennessee counties. Average statewide – 3.4 percent.

Benton County, 4.2
Carroll County, 4.1
Chester County, 3.1
Crockett County, 3.3
Decatur County, 3.9
Dyer County, 3.1
Fayette County, 3.0
Gibson County, 3.7
Hardeman County, 4.1
Hardin County, 3.6
Haywood County, 4.5
Henderson County, 3.9
Henry County, 3.5
Lake County, 4.2
Lauderdale County, 4.9
Madison County, 3.2
McNairy County, 4.5
Obion County, 4.0
Tipton County, 3.6
Weakley County, 3.3

Vann Drive property transaction – $1.5 million for 2.5 acre lot near Dick’s Sporting Goods

The two-and-one-half acres that was once home to one of the first buildings constructed on the west end of Vann Drive has been sold.

JHG Hospitality LLC sold the property at 1203 Vann Drive – located next to Dick’s Sporting Goods, and directly across Hilton Garden Inn on Vann Drive – to Norvell Management LLC, for $1,550,000.

Norvell Management could not be reached for comment.

Located next to Dick’s Sporting Goods, and directly across Hilton Garden Inn on Vann Drive.
Total Construction Environmental Contractors from Milan razed the 20,000-square-foot facility for BayRock Investment Company, in August, 2015.

Bayrock Investment Company is based in Charlotte, N.C., and Sarasota, Fla.

Office/retail complex nears completion at 15 Old Humboldt Road

Completion of a new 8,000-square-foot office/retail building at 15 Old Humboldt Road is scheduled for late June.

Details are not available, but a walk-in medical clinic is the first tenant, and will occupy 3,000-square-feet in the facility that is located near BancorpSouth, George A. Smith & Sons Funeral Home and Towering Oaks Office Complex on North Highland Avenue.

Completion of a new 8,000-square-foot office/retail building at 15 Old Humboldt Road is scheduled for late June.

JEA approves budget for fiscal 2019

The Jackson Energy Authority Board of Directors approved its budget for fiscal 2019, which includes a projected $242 million in sales revenue.

Net sales revenue is projected to be $99.7 million, and capital expenditures are projected to be $38.5 million.

Operation and maintenance expenditures have a projection of $55.8 million, and net income before contributions is projected to be $10.8 million.

Board members also authorized a miscellaneous Electric Construction and Maintenance Contract with Broadway Electric Service Corp. (BESCO), based upon its submitted hourly rates not to exceed a maximum amount of $446,462.50.

The Board also authorized a contract with Asplundh Tree Expert Company for the trimming of 32 electric distribution feeder circuits and miscellaneous trimming as requested per their submitted bid of $439,476, for a one-year period beginning July 1, with the option to renew the agreement for two additional one-year periods.

University of Memphis Lambuth opens new IT call center on campus

The University of Memphis Research Foundation and business partner, FedEx, officially launched its second call center – this one in the heart of mid-town Jackson – at the M.D. Anderson Planetarium, J.R. Hyde Science Hall, on the campus at the University of Memphis Lambuth, Wednesday.

“We’re very excited about this, and the opportunity it gives our students here at the Lambuth campus for the University of Memphis,” Niles Reddick said. “Not only high paying jobs starting at $13 an hour, but also, awesome experience to include in their resumes, so they can get good jobs when they graduate from the University of Memphis.

“I think this is just the beginning of some awesome things to come in the future.”

Niles Reddick, the vice provost at the University of Memphis Lambuth campus, joined Thomas G Kadien, CEO University of Memphis Research Foundation, Robert B. Carter, executive vice president and chief information officer FedEx Corporation and Dr. M. David Rudd, president, University of Memphis for the announcement.

The FedEx call center for IT support – which is fully-staffed – is a student-operated call center, and employs 20-to-25 agents.

Hours for the call center will be 7 a.m. to 8 p.m., seven days a week, 365 days a year.
The call center has 15 cubicles, and the hours the students work will be scheduled around their classroom obligations.

“This is a real exciting initiative for FedEx, for the university of Memphis and for the region,” Robert B. Carter said. “We are innovating in a way that we can tap into the talent base that are the students here at the Lambuth campus, and utilize that to help our company and the university at the same time.

“We consider it a win, win, win – a win for the university, a win for the university students and a win for FedEx.”

Tacos 4 Life Grill sets opening date

According to company officials, Tacos 4 Life Grill will open in mid- to late June on Vann Drive.
The 3,900-square-foot facility is located next door to Robinson Toyota.

Headquartered in Conway, Arkansas, Tacos 4 Life Grill offers a unique concept – 22 cents of each taco sold goes toward feeding the hungry around the world.

Founded in Arkansas, franchises are located in Conway (2), Fayetteville, Little Rock, Benton and Searcy.

Besides Tennessee, the company is expanding into Texas and North Carolina.

Brownsville native out as CEO of JC Penney

Marvin Ellison, a native of Brownsville, is the new chief executive officer of Lowe’s after leaving a similar position at JC Penney.

Ellison’s rise on the corporate ladder began after he earned a a business administration degree in marketing from the University of Memphis, and a Master of Business Administration from Emory University in Atlanta.

He worked for the chief competitor of Lowe’s – The Home Depot – for 12 years before taking the reins at JC Penney.

Lowes operates 2390 stores and employs 200,000 full time workers. The chain was founded in 1946 and is headquartered in Mooresville, South Carolina.

Financial filings at JC Penney reported Ellison’s annual salary at nearly $2 million.

With nearly 30 years of experience in retail, he served as The Home Depot’s executive vice president of U.S. stores, and he has been the senior-most operations leader for Home Depot’s approximately 2,000 stores.

He was also president of The Home Depot’s Northern Division, where he was responsible for sales and operations of more than 700 stores in 21 states and led a team of more than 150,000 associates.

Before his employment at The Home Depot, Ellison worked 12 years for Target.

ALDI expands store in West Towne Centre

The selection of groceries grew and the competition among grocery retailers just got a little greater after ALDI expanded at 6 Stonebridge Blvd., in Towne Centre North.

ALDI, which opened January 13, 2013 in Jackson, added more retail space when it incorporated 25 feet of its backroom.

ALDI added 82 feet of cooler space for meat and produce.

New shelving throughout the store was added during the complete renovation.

ALDI has 79 stores in Tennessee with more than 1,728 stores in 35 states.

Nationally, the company employs over 25,000 people.

The first ALDI store opened in 1961 in Germany, making it the first discount grocer in the world.

The first ALDI store to open in the United States was in 1976 in Iowa.

(PHOTO: Niles Reddick, vice provost, University of Memphis Lambuth)
David Thomas, Twitter – @DavidThomasWNWS
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