International Paper Touts Community Support:
The Memphis-Shelby County Industrial Development Board meets Wed., Dec. 19, to consider a request from International Paper Co. for government tax incentives to support an expansion of its headquarters here. Part of the presentation the company will make will include the millions of dollars spent and the significant amount of hours and resources IP commits to volunteer and charitable efforts in the Memphis area. On one hand, there is a financial incentive for local economic development officials to green-light the company’s request for incentives. In exchange for 15-year tax freezes on several buildings, IP would keep 2,274 jobs here, create 101 new jobs, keep its headquarters in Memphis and build a new 235,000-square-foot, 10-story building along with a new 470-car garage and two pedestrian bridges. On the other hand, the company will make as part of its presentation an appeal that the incentives will help it stay in Memphis and continue what it will argue is a strong tradition of corporate giving.
