About the Greater Memphis Area:
Memphis is located in the southwest corner of Tennessee, and the county seat of Shelby County. As of 2006, Memphis had an estimated population of 670,902, making it the largest city in the state of Tennessee. The city's central location has led to much of its business development. Located on the Mississippi River and intersected by two Interstate highways and seven major U.S. highways, Memphis is ideally located for commerce among the transportation and shipping industry.
The greater Memphis area has a population of 1.2 million and is the second largest city in the southeastern region. 44% of the city of Memphis are renters compared to the 30% average for the rest of the state (city-data.com). The Memphis market has been appreciating steadily and home prices have increased by 20% in the last 5 years (OFHEO).
Memphis Econmony
Memphis's economy is diverse. Services centered in Memphis include banking and finance (First Tennessee, National Commerce Bancorp, Union Planters); real estate (Belz Enterprises, Boyle Investment Co., and Weston Co.); nonprofits including the world's largest waterfowl and wetlands conservation organization (Ducks Unlimited); and a restaurant chain (Backyard Burgers). Science and technology business is very well represented in Memphis; Brother Industries USA, Buckman Laboratories, Medtronic Sofamor Danek, Morgan-Keegan, Sharp Manufacturing of America, Smith & Nephew, and Wright Medical Technologies all have headquarters there (city-data.com).
Memphis also had the highest rate of high technology start-up operations over the last three years among the nation's 60 largest metro areas, according to Brandow Company research. Memphis is the corporate international headquarters of several corporations. Two of them, FedEx and International Paper, are 2006 members of the Fortune 100. Memphis has four members in the Fortune 500: AutoZone, ServiceMaster, FedEx, and International Paper.
A map of the Memphis area
Facts About Memphis Employment
- 23 major companies moved to Memphis, bringing over 1,800 new jobs, utilizing 1.8 million square feet of space and investing nearly $50 million in 2006.
- 153 major projects announced in 2006 creating 9,588 new jobs and occupying over 12.5 million square feet of industrial and office space.
- Expansion Management magazine's 2005 list of the "50 Hottest Cities" for relocating or expanding companies ranked Memphis 16th in the nation.
Percentage of Employment by Industry |
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Please note that all prices, building costs, interest rates, appreciation
rates and terms are subject to change without notice. NREI Club is not responsible
for losses, damages, or changes in the market conditions. Investors are
urged to perform their own due diligence investigations before entering
into any real estate transaction, or other contractual relationship, and
prior to making a purchase decision.
