Posted by: Jennifer McEachern
MEMPHIS — Tennessee Gov. Bill Haslam and Economic and Community Development Commissioner Randy Boyd along with LEDIC Realty Company officials announced today the company will locate its new national headquarters in Memphis. LEDIC, a fully integrated manager, owner, and developer of multifamily properties across the United States, will invest $10.2 million in a new state-of-the-art facility and create 300 jobs in Tennessee.
“We want to thank LEDIC for choosing Memphis for its new national headquarters and for creating 300 new jobs in Tennessee,” Haslam said. “LEDIC’s expansion speaks to the quality of our state’s business environment and workforce, and we are grateful the company will continue to grow here. Today’s announcement supports our goal of becoming the No. 1 location in the Southeast for high quality jobs.”
LEDIC was founded in Memphis in 1979. After merging with a Montgomery, AL based firm in 2015, LEDIC made the decision to locate its national headquarters and training facility, a key feature of the headquarters location, in Memphis.
Currently located at 2650 Thousand Oaks Blvd., LEDIC will commit to relocate all of its national headquarter personnel and equipment to 555 S. Perkins Rd., a four-story, 60,000 square foot building. The company will retrofit and improve the space to create a state-of-the-art training facility housing classrooms configured with training technology and equipment. The training facility will educate not only LEDIC’s employees, but will also serve as a location to host large real estate association groups and expand real estate professional education.
“LEDIC’s decision to locate a new national headquarters in Memphis marks the second headquarters commitment in less than two weeks right here in Shelby County,” Boyd said. “Tennessee is a state that values and nurtures our businesses, and we strive to promote their success. I appreciate the new jobs LEDIC is creating for our communities and look forward to our continued partnership.”
In late October, Orgill, Inc., a hardware and home improvement products distributor, announced plans to build a new world headquarters in Collierville, creating 115 new jobs.
LEDIC has acquired over 9,000 apartment units in 2015 making it among the fastest growing real estate firms in the nation. LEDIC now manages 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 while the remaining 200 jobs, which include management, construction, maintenance and leasing positions, will be distributed throughout the state.
LEDIC CEO Pierce Ledbetter stated, “LEDIC is honored to grow alongside our city’s roster of leading multifamily firms headquartered in Memphis, including MAA, EdR, Belz, Boyle, Carlisle, Fogelman, Lightman, MRG, Patton & Taylor, Turley, among others-- a tradition of real estate leadership and entrepreneurialism that was exemplified by a Memphis role model, Kemmons Wilson, founder of Holiday Inn.
Over half of all apartments in Shelby County under construction today are managed by LEDIC, and as we participate in significant development projects across Shelby County, including Chisca, Sears Concourse, Fieldstone, Carrington at Shilling Farms, we aim to improve the entire city and county,” Ledbetter added.
Local leaders expressed gratitude to LEDIC for its commitment to Memphis and the area workforce.
Shelby County Mayor Mark H. Luttrell, Jr. commented, “LEDIC has been a mainstay in our community for decades. Their expansion will generate hundreds of jobs that will strengthen the Memphis and Shelby County area. It’s proof our quest for new business development is yielding results.”
“It is great to have a company like LEDIC making plans for a significant, $10 million investment in our city,” Memphis Mayor A C Wharton, Jr. said. “Their commitment to build a state-of-the-art facility to train and certify employees for the hospitality and property management industries indicates that these are important growth sectors for our local economy. We welcome LEDIC’s investment and look forward to their future growth here.”
"We applaud LEDIC’s decision to locate its national headquarters in Memphis, and the state’s assistance in bringing this one step to closer,” EDGE President and CEO Reid Dulberger said. “The EDGE Board looks forward to meeting with LEDIC next week to continue the discussion.”
Those interested in applying for a position with LEDIC can submit resumes at www.ledic.com.
Memphis and Shelby County are represented by Sen. Mark Norris (R – Collierville), Sen. Brian Kelsey (R – Germantown), Sen. Reginald Tate (D – Memphis), Sen. Lee Harris (D – Memphis), Sen. Sara Kyle (D – Memphis), Rep. Jim Coley (R – Bartlett), Rep. Ron Lollar (R – Bartlett), Rep. Steve McManus (R – Cordova), Rep. Curry Todd (R – Collierville), Rep. Mark White (R – Memphis), Rep. Raumesh Akbari (D – Memphis), Rep. Karen Camper (D – Memphis), Rep. Barbara Cooper (D – Memphis), Rep. John DeBerry (D – Memphis), Rep. G.A. Hardaway (D – Memphis), Rep. Larry Miller (D – Memphis), Rep. Antonio Parkinson (D – Memphis), Rep. Joe Towns (D – Memphis) and Rep. Johnnie Turner (D – Memphis) in the Tennessee General Assembly.
About the Tennessee Department of Economic and Community Development
Tennessee was named 2014 and 2013 “State of the Year” for economic development by Business Facilities magazine. The Tennessee Department of Economic and Community Development’s mission is to develop strategies which help make Tennessee the No. 1 location in the Southeast for high quality jobs. The department seeks to attract new corporate investment in Tennessee and works with Tennessee companies to facilitate expansion and economic growth. Find us on the web: tnecd.com. Follow us on Twitter: @tnecd. Like us on Facebook: facebook.com/tnecd.