No Vacancies: West Memphis Lands Heavy Construction Supplier To Fill Last Industrial Space

Des Moines, Iowa-based EFCO Corp. plans to bring a new re-fabrication manufacturing facility to West Memphis, filling the city’s last vacant industrial space with another top-notch employer in the construction industry.

EFCO, an international provider of engineered formwork and shoring solutions for the concrete industry, plans to move into the old Superior Building on South Avalon in northeast Arkansas city by April 1, West Memphis officials said.

When EFCO moves into the vacated building, West Memphis will have a zero vacancy rate for industrial vacancies. By comparison, the average industrial vacancy rate in adjacent Memphis and North Mississippi is 14%, city officials said.

“We are pleased to welcome EFCO to our community—we know they had many options to consider in establishing a regional center,” West Memphis Mayor William Johnson said. “Their decision affirms the appeal of our low operating costs compared with other sites in the Mid-South. And it builds on the momentum we experienced last year with $150 million worth of business and industrial expansion and locations.”

EFCO officials said the West Memphis facility will primarily serve the construction industry in the south central region of the U.S., providing standard and custom-built formwork and shoring for concrete construction work. The Iowa-based manufacturer said it has supplied formwork for a number well-known construction projects, including the World Trade Center Freedom Tower in New York and the City Center in Las Vegas, as well as the Indianapolis Colts Stadium and the University of Alabama football stadium expansion.

In addition, EFCO offers products and engineering solutions that help build bridges, power plants, commercial high-rise buildings, water treatment facilities, parking garages and stadiums, officials said.

BIG PAYROLL, HEALTHY WAGES
Once EFCO’s manufacturing plant is in operation, it will hire up to 10 new employees with average hourly wages that range from $20 to $30. Company officials said the total annual payroll could top $500,000.

Ward Wimbish, director of economic development for the Delta city, said EPCO will receive industrial revenue bonds to finance its capital improvements. The bonds will allow the city to provide a 65% property tax abatement to the new industrial employer.

The company also qualifies for the state’s Advantage Arkansas Income Tax Credit program, based on the number of new employees it hires. The income tax credit earned is a percentage of the annual payroll of the new full-time permanent employees and is earned each tax year for a period of five years, according to state economic development officials. Unused credits may be carried forward for nine years beyond the year in which the credit was first earned.

Locally, Wimbish said the tax credit would also allow West Memphis economic development officials to authorize reimbursement of any city sales tax EFCO pays as part of its start-up expenses.

“For example, if they buy office equipment in West Memphis, the sales tax on those purchases can be refunded to them at the end of the year,” Wimbish said. “We hope this encourages them to buy locally.”

On the EFCO website, the Iowa company said its re-fabrication process includes welding, cutting, painting, repairing, assembly and other processes related to its products. Wimbish said EFCO’s move into West Memphis will burnish the city’s reputation even further.

“EFCO doing work here brings us first-class exposure,” he said. “Anybody doing a big construction project in the area will be more likely to have West Memphis on their radar.”