LEDIC Realty Group to Locate National Headquarters in Memphis
Release date: 11/11/2015
Memphis, Tenn. – Tennessee Economic and Community Development Commissioner Randy Boyd along with LEDIC Realty Company CEO Pierce Ledbetter announced today that the company will locate its new national headquarters in Memphis. LEDIC will invest $10.2 million in a new state-of-the-art facility and create 300 jobs in Tennessee.
“LEDIC's decision to have their new corporate headquarters in Memphis is not only a win for the business community but a win for Memphians as well,” said Phil Trenary, President & CEO of the Greater Memphis Chamber. “The Chamber and our partners work every day to provide good jobs and grow our local economy. We're grateful to LEDIC for bringing 300 statewide high quality jobs to our community.”
LEDIC Realty Company is a fully integrated manager, owner and developer of multifamily properties across the United States. Founded in in 1979, the company merged with a Montgomery, AL based firm in 2015, which led to the decision to locate its national headquarters and training facility in Memphis.
In 2015, LEDIC acquired over 9,000 apartment units, making it one of the fastest-growing real estate firms in the nation. LEDIC now manages over 40,000 apartment units and employees over 1,100 team members nationwide. Approximately 100 of the new jobs will be based at the national headquarters in Memphis. The remaining 200 jobs will be distributed throughout the state.
LEDIC is one of many major projects bringing jobs and investment to Memphis this year. Other projects include:
Orgill – 115 new jobs & $15 million investment
TJ Maxx – 300 new jobs & $50 million investment
Connexion Point – 900 new jobs & $2.46 million investment
ABF Freight – 374 new jobs & $15 million investment
Jabil – 75 new jobs & $15 million investment
For more information, click here to view the Tennessee State Government’s press release.
For more than 175 years, the Greater Memphis Chamber has been the lead economic development organization for Memphis/Shelby County, and is a private, non-profit, membership-driven organization comprised of 2,200 business enterprises, civic organizations, educational institutions and individuals.