EDGE — Economic Development Growth Engine for Memphis & Shelby County

Created in 2011 through a joint resolution of the Memphis City Council and the Shelby County Commission, EDGE is the economic development agency for the City of Memphis and Shelby County, coordinating public resources to drive growth. Their work spans everything from attracting major corporations to the region to helping a neighbourhood restaurant renovate its storefront — and everything in between.

EDGE focuses on developing and fostering public/private partnerships to create jobs, grow the local economy, revitalize neighborhoods, attract investment, spark innovation, and encourage entrepreneurship. For Memphis entrepreneurs, EDGE is one of the most important institutions in the city — offering direct financial assistance, tax incentives, and a growing ecosystem of support programs designed to help local businesses start, grow, and thrive.

The Entrepreneurship City Initiative

The City of Memphis and EDGE launched a bold initiative called "Entrepreneurship City: Where Grit Meets Growth" to support and elevate entrepreneurs across the city. This initiative is more than a campaign — it's a coordinated effort to ensure every entrepreneur in Memphis has access to the right resources, relationships, and opportunities to grow.

The initiative unites local organisations, small business programs, and business owners under one banner to amplify Memphis' entrepreneurial ecosystem. Through digital storytelling, enhanced visibility, and expanded access to resources, Entrepreneurship City aims to ensure that every entrepreneur — from students to seasoned founders — knows Memphis is a place where ideas can start and scale.

As part of the initiative, EDGE hosts an annual Small Business Expo — a free event that brings together small business owners, aspiring entrepreneurs, lenders, and economic development partners in one place. Since 2014, businesses supported through EDGE's Small Business Loan Program have invested approximately $9 million into the communities they serve and created nearly 600 jobs.

Financial Assistance for Small Businesses

Inner City Economic Development (ICED) Loan Program

This is EDGE's flagship program for small business owners and property owners looking to improve their physical space. The Inner City Economic Development (ICED) Loan program is designed to spark revitalisation of Memphis inner city neighbourhood business districts through small forgivable loans of up to $25,000.

ICED loan funds are primarily for building façade improvements and streetscape improvements, though interior improvements and building expansions may also be eligible.

Who is eligible? Businesses and property owners may be eligible if the building is located in a New Markets Tax Credit eligible census tract, City of Memphis and Shelby County property taxes are current or on an approved payment plan, and the applicant has sufficient capital to fund one-third of approved construction costs. Both building owners and tenants with a three-year lease are eligible, and priority will be given to neighbourhood-serving businesses with transparent storefront windows facing the street.

Want to apply? EDGE provides an architect to assist with elevations and budget estimates as part of the application process — making it easier for first-time applicants to navigate the system.

Tax Incentives for Growing Businesses

EDGE administers several powerful tax incentive programs for businesses looking to expand, relocate, or invest in Memphis. These include:

• Payment In Lieu of Taxes (PILOT) — One of EDGE's most widely used tools, PILOTs allow qualifying businesses to pay a reduced property tax rate for a set number of years in exchange for creating jobs, making capital investments, or improving properties. Several PILOT types are available, including Community Builder, Jobs, Expansion, Fast Track, Destination Retail, and Residential PILOTs, each targeting a different type of business activity.
• Tax Increment Financing (TIF) — A tool that uses future increases in tax revenue generated by a development to fund the infrastructure improvements that make that development possible — a powerful option for larger projects in designated areas.
• Industrial Revenue Bonds (IRBs) — EDGE is authorised by state statute to issue taxable and tax-exempt bonds for financing commercial, non-profit, and government facilities. These bonds can be a cost-effective financing option for larger capital projects.

Starting a Business in Memphis — Resource Library

One of the most practical things EDGE offers entrepreneurs is a free, curated resource library covering everything you need to know about starting a business in Memphis and Tennessee. Available resources include:

• Steps to Starting a Business in Memphis & Shelby County
• Steps to Starting a Business in Tennessee
• Tennessee Small Business Guide
• State of Tennessee instructions for forming or registering a new business
• Tennessee Export 101 Guide (for businesses looking to sell internationally)

These resources are available directly on the EDGE website and include links to the State of Tennessee's business registration portal, location and infrastructure guides, and the Tennessee Smart Start platform. This library is an excellent starting point for any first-time entrepreneur who doesn't know where to begin.

Additional Programs & Opportunities

Beyond loans and tax incentives, EDGE manages or supports several other programmes relevant to Memphis entrepreneurs:

• Opportunity Zones — Federally designated areas in Memphis where investors can receive tax benefits for deploying capital into qualifying businesses and real estate projects.
• Brownfields Program — Support for redeveloping previously contaminated or underutilised land — a significant opportunity for entrepreneurs in certain parts of the city.
• C-PACER — A financing tool for commercial property owners to fund energy efficiency and renewable energy improvements through a special assessment on their property.
• Foreign Trade Zone (FTZ-77) — For businesses involved in importing or exporting goods, the FTZ helps reduce tariff burdens and improve global competitiveness.
• Port of Memphis — Created in 1947 to manage the International Port of Memphis, the second largest port on the lower Mississippi, the Port offers unique logistics advantages for businesses in manufacturing, distribution, and trade.