Memphis Business Journal

On Jan. 1, Saint Francis Healthcare will no longer be in Cigna's network, unless a new contract is signed.
Wednesday, December 12, 2018 - 12:05
As MBJ reported last week, Indigo Ag is planning a major expansion in Downtown Memphis, which could create more than 700 new jobs. Tennessee Gov. Bill Haslam, Department of Economic and Community Development (TNECD) commissioner Bob Rolfe, and Indigo Ag Inc. president and CEO David Perry announced today at Toyota Plaza that the agricultural technology startup will establish in Memphis the headquarters for its North American commercial operations. As part of the growth, Indigo is set to invest…
Wednesday, December 12, 2018 - 10:30
Amazon will open a regional air hub at the Fort Worth Alliance Airport, creating hundreds of new jobs with the first airport project of its kind in the Amazon Air network, the company announced Tuesday. The new facility will be tailored specifically to Amazon Air’s larger-scale regional needs. Unlike other gateways and facilities within Amazon Air’s network, the regional air hub will include sortation capabilities and infrastructure to handle multiple flights daily, the Seattle-based company…
Wednesday, December 12, 2018 - 07:43
Kroger Co.’s partnership with drug store giant Walgreens has Kroger CEO Rodney McMullen “excited” about its prospects although the arrangement is still in its infant stages.
Wednesday, December 12, 2018 - 07:41
The Memphis Cook Convention Center could soon bear the name of a corporate sponsor. The City of Memphis and convention center board will likely be at least studying the option of selling naming rights. The Cook Convention Center Board is slated to vote on awarding a contract to a consultant that would investigate the matter, according to its agenda. Wayne Tabor, chairman of the Convention Center board and president of ‎the Metropolitan Memphis Hotel and Lodging Association, said the study,…
Wednesday, December 12, 2018 - 07:33
Memphis has big plans for dozens of city-owned acres that fall within its Opportunity Zones. The city plans to issue requests for proposals (RFPs) from private developers for properties, Memphis Mayor Jim Strickland said in a speech to developers and investors at the University of Memphis Tuesday. A copy of the speech was provided to MBJ. Almost all of the city-owned property that the Memphis is looking to develop, and that Strickland touted Dec. 11, falls within what are called Opportunity Zones…
Wednesday, December 12, 2018 - 06:15
A Memphis-based holding company is adding to its roster. Fremont-Wright LLC acquired Monroe, Washington-based Harmsen & Associates in October. Harmsen & Associates has four offices in that state and about a dozen employees. Fremont-Wright focuses its investments in aerial and land surveying and civil and structural engineering companies that serve the institutional, mixed use, commercial, and residential industries. The holding company’s other businesses include Las Vegas-based civil engineering…
Tuesday, December 11, 2018 - 14:37
The Center City Revenue Finance Corp. (CCRFC) approved its first TIF on Tuesday, Dec. 11, in order to support a massive project and fill a hole in Downtown development. The project, known as Union Row, is set to develop almost 800 apartments, 200 hotel rooms, 110,000 square feet of retail, and 350,000 square feet of office space as part of its first phase. The phase is set to cost more than $510 million, with subsequent phases potentially costing another $400 million or more. "This is going to…
Tuesday, December 11, 2018 - 14:32
During investor day, Mary Kay Wegner — president of ServiceMaster Brands — said the company has thought of itself primarily as franchisers in the past.
Tuesday, December 11, 2018 - 14:21
Buckman's chief executive is adding three key executives.
Tuesday, December 11, 2018 - 14:00
A new University of Memphis recreation facility would transform the campus just south of Southern Avenue, proposed plans and renderings show. In February 2017, the U of M put on hold plans for a $60 million student recreational center after coming up short on funding. A year and a half later, the project is back — and about 50 percent smaller. It now has a $30 million budget. "It's going to change the whole context and really bring in that area as more part of the campus, and put everything…
Tuesday, December 11, 2018 - 13:52
The holiday spirit is alive and well in the Mid-South. Customers at the local BurlingtonEastgate Shopping Center got a welcome surprise Dec. 11; local entrepreneur and real estate developer Avron B. Fogelman is paying off the remaining layaway balances for more than 400 shoppers.  This isn’t the first time that Fogelman has spread holiday cheer. In 2017, he paid for 70 children with the Boys and Girls Club of Greater Memphis to go shopping at Old Navy. In 2016, he also paid off layaways at…
Tuesday, December 11, 2018 - 11:53
ServiceMaster is looking to expand in urban markets — and that plan includes the acquisition of a leading pest control company in New York. ServiceMaster Global Holdings Inc. announced Tuesday, Dec. 11, that it will acquire Assured Environments, a company that provides pest control services to some of New York's most well-known landmarks, including Rockefeller Center, Madison Square Garden, and the 9/11 Memorial Museum. Assured Environments has 200 full-time employees. "Andrew Klein and the…
Tuesday, December 11, 2018 - 10:49
32 census tracts represent a vast opportunity for the City of Memphis, Shelby County, and its combined economic development efforts.
Tuesday, December 11, 2018 - 06:46
Wright Medical announced Monday that it plans to grow by another 40,000 square feet and add about 30 jobs with the expansion at its Arlington facility. "We expect to create approximately 30 new production positions with this expansion," Phil Ward, senior director of manufacturing, said in an email. The project will occur at Wright Medical's location at 11576 Memphis-Arlington Rd. "We will use the area to produce medical devices dedicated to repairing injuries to the foot, ankle, and lower…
Tuesday, December 11, 2018 - 06:12
The American Athletic Conference’s schools are considering a long-term commitment that will keep the league intact and make its media package more attractive. The conference is asking schools, including the University of Memphis, to sign a grant-of-rights agreement that theoretically would lock them into the conference for the duration of the next media rights deal. The American Athletic Conference’s (AAC) current, seven-year, $126 million package with ESPN expires in 2020. A new deal could…
Monday, December 10, 2018 - 15:43
Franklin-based Tivity Health Inc. is set to buy Pennsylvania-based weight-management company Nutrisystem Inc. in a cash-and-stock deal valued at $1.3 billion. The deal is expected to close in the first quarter. "The acquisition of Nutrisystem is an exciting and transformational event for Tivity Health as we expand our portfolio of healthy lifestyle brands," Tivity CEO Donato Tramuto said in a news release. "Tivity Health and Nutrisystem share the same mission-driven culture and have highly talented,…
Monday, December 10, 2018 - 14:16
With their LLC’s recent purchase on North Main Street, a local architect and his wife picked up two more parcels in the Pinch District.
Monday, December 10, 2018 - 14:00
Drug manufacturing capabilities along with cutting-edge regenerative and precision medicine might prove to be transformative for UTHSC.
Monday, December 10, 2018 - 13:44
The founders plan to produce an abundance of varieties, from a Moscow Mule cider to a Carrot Cake one.
Monday, December 10, 2018 - 12:11