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Startup Favorite Indigo Ag has announced that it will bring hundreds of new jobs to downtown Memphis.
Michael Schwab, Memphis Commercial Appeal

MEMPHIS – By the end of the week, an agricultural technology start-up could be approved for [$1945936] million in grants and tax breaks from Tennessee and local business development agencies Consideration for the move of his North American headquarters from Boston.

The move would bring about 700 Indigo Ag jobs to Memphis, with the average payroll exceeding $ 90,000. The US Census Bureau estimates per capita income at less than $ 24,000 and median household income more than $ 38,000.

"It's the biggest new Memphis headquarters announcement in my memory," said Mayor Jim Strickland 9008] On Monday, the Tennessee State Funding Board is considering $ 4.5 million in incentives for Indigo Ag that started in 2015. On Wednesday, company officials will apply for a $ 150,000 grant, $ 110,000 in tax breaks, and commuter incentives to agencies in the Memphis area

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"We have decided to establish and expand Indigo's North American business headquarters in Memphis, as we are close to our customers and Indigo Research Partners "The business climate, access to world-class talent and cooperation between government and city leaders," said David Perry, Indigo's president and chief executive, in a news release last Wednesday.

Indigo's interest in healthy eating is increasing to become a global leader in the industry and to make the harvest more productive for farmers. For at least 150 years, Memphis has been the largest city in the heart of the wealthy Mid-South.

The Company's Technology It Will not Cut All the jobs in Boston to expand research and development there, coat seed with naked microbes like bacteria and fungi. These friendly microbes protect plants among other plant killers from drought, pests and diseases.

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A coating of beneficial microbes on cottonseed brought her first commercial success – 10 percent more harvest, even under drought conditions – said Indigo Ag in July 2016. The treated seeds may also reduce the fatigue requirement of pesticides.

So far, the company has launched seed for corn, cotton, rice, soybeans, and wheat, The Boston Globe . The privately held company raised $ 650 million from venture capitalists in four years, has a value of $ 1.4 billion, and plans to generate $ 10 billion worldwide in revenue.

Indigo commenced operations in Memphis in 2016, and since August 2018, the company has increased its Tennessee workforce from 60 to 175.

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When their North American headquarters in Memphis was officially founded, Toyota Plaza, the highest paid employee – 90 managers – earned an average of $ 180,960. The lowest paid positions – 358 office workers – earn an average of $ 64,480. This emerges from a motion directed to the Engine of Economic Development Growth for Memphis and Shelby County.

Indigo's Memphis headquarters will include finance, human resources, legal, human resources and administration personnel. plus sales, logistics, information technology, research and development, marketing and operations. Top executives will also be based here.

The company also has offices in Buenos Aires, Argentina; Sydney, Australia; Sao Paulo, Brazil; and Durham, North Carolina.

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The company plans to fill 700 jobs within three years.

Review: Phillip Jackson and Micaela Watts, The (Memphis) Commercial Appeal. Follow Desiree Stennett on Twitter: @desi_stennett

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