APPLICATION INTERNATIONAL DISTRIBUTORS USA, INC. FOR FAST TRACK PAYMENTS IN LIEU OF TAXES BEFORE THE ECONOMIC DEVELOPMENT GROWTH ENGINE

Transcription

1 APPLICATION OF INTERNATIONAL DISTRIBUTORS USA, INC. FOR FAST TRACK PAYMENTS IN LIEU OF TAXES BEFORE THE ECONOMIC DEVELOPMENT GROWTH ENGINE INDUSTRIAL DEVELOPMENT BOARD OF THE CITY OF MEMPHIS AND COUNTY OF SHELBY, TENNESSEE 2016

2 TABLE OF CONTENTS Section Title Page No. 1) Identification of Applicant.. 1 2) Identification of Sponsor 1 3) Overview of Applicant and Sponsor ) Project Professionals 3 5) Pending and Previous Applications 3 6) The Project 3 7) Project Location 4 8) Jobs and Wages ) Property Tax Information 5 10) Capital Investment ) Other Considerations ) Justification for PILOT Request ) PILOT Incentive Requested ) Special Requests A. Community Reinvestment Credit B. Ability to Expand Project to Additional Sites 15) Local Business Participation ) Environmental Impact ) Financial Information... 9 i

3 18) Mayors Letter APPLICANT APPLICATION REPRESENTATIONS AND COVENANTS SPONSOR APPLICATION REPRESENTATIONS AND COVENANTS ii

4 LIST OF EXHIBITS IDUSA Product Descriptions... A (1) Conventional Oil Filters (2) Extended Life Oil Filters (3) Air Filters (4) Cabin Air Filters (5) Fuel Filters (6) Transmission Filters Project Location... B (1) Legal Description (2) Location Map (3) Aerial and Front Views (4) Tax/Plat Map (5) Zoning Map (6) Building Sketch (7) Site Plan Jobs Schedule.... C Real Property Tax Information. D (1) Parcel Number (2) Parcel Number iii

5 1) Identification of Applicant A. International Distributors USA, Inc. ( IDUSA or Applicant ) B Ridgeway Industrial Drive Olive Branch, Mississippi Federal Employer Identification Number: Company Representatives: Anan Bishara CEO, President 90 Broad Street, Suite 1504 New York, New York Dale Head Operations Manager B Ridgeway Industrial Drive Olive Branch, Mississippi B. IDUSA, a New York corporation, will become certified to transact business in the State of Tennessee. 2) Identification of Sponsor A. PG Properties LLC ( Sponsor ) B Ridgeway Industrial Drive Olive Branch, Mississippi Federal Employee Identification Number: Company Representative: Anan Bishara Sole Member 90 Broad Street, Suite 1504 New York, New York Dale Head Registered Agent B Ridgeway Industrial Drive Olive Branch, Mississippi B. PG Properties LLC, a Mississippi limited liability company, will register to transact business in the State of Tennessee to the extent required by law. 1

6 3) Overview of Applicant and Sponsor A. IDUSA is an importer of automotive parts and supplies for sale to retailers throughout the United States, Mexico and Central America. Since 1996, IDUSA has focused on distributing products for automotive, diesel, power-sports and specialty filter markets. IDUSA is a full-line supplier, providing filters for up to 95% of vehicle models. Its product line includes oil filters, air filters, cabin filters, fuel filters and transmission filters for automobiles and trucks (see Product Descriptions, collectively attached as Exhibit A). With close to 2,000 filtration part numbers for automotive, light truck, and heavy-duty applications, in addition to a tradition of product development, design, and customer service, IDUSA is positioned to continue its leading role in the aftermarket. With its own product line, IDUSA has a unique edge over the competition. Premium Guard ( PG ) is IDUSA s registered trademark brand, and is positioned as the leader in the automotive filters aftermarket value segment. The brand has been developed and nurtured since The PG Filter line includes close to 1,500 items in five filtration categories oil, air, fuel, cabin and transmission. PG filters have proven their quality and market appeal, and their growth since 2001 has encouraged customers to increase the mix of PG stocking numbers. The PG line offers more than 96% application coverage in the oil filter market and more than 80% application coverage in the fuel and air filter market. These products currently are warehoused in Applicant s national distribution center in Olive Branch, Mississippi, where IDUSA is committed to a 96% fill-in rate within 4-6 days to any U.S. location. When it comes to the aftermarket, IDUSA places the most emphasis on quality. Fit, form and function must exceed all specifications set by the original equipment manufacturers ( OEM ). Quality is built into all of its products, originating with components and raw materials, carrying through with manufacturing best practices, quality assurance testing and onthe road performance assessments. IDUSA is committed to a product that meets or exceeds OEM standards on all levels of performance and functionality. IDUSA has formed global alliances and partnerships that allow a quality product while maintaining competitive costs. Applicant s hybrid platform allows it to offer a variety of programs to satisfy the needs of the different distribution channels in the automotive aftermarket warehouse distributors, retailers, and buying groups. IDUSA has distribution agreements with various retailers and buying groups throughout the U.S., including AutoZone, Federated Filters, Parts Plus, and PRONTO. Its portfolio also includes national private label programs. IDUSA s business model offers efficiency and quality that has facilitated tremendous growth for its customers and its business. In CY 2015, IDUSA achieved almost $35M in sales, and, for CY 2016, has enjoyed sales of over $31M through July (a 61% increase in sales over the same duration in CY 2015). B. Sponsor, a duly organized and existing limited liability company, is an affiliate entity of IDUSA. The nature of Sponsor s business is to own and lease non-residential real property. To wit, Sponsor is the current owner of the real property at B Ridgeway Industrial Drive, Olive Branch, Mississippi, and leases the warehouse facilities located there to IDUSA for use as its national distribution center. If the Project (as hereinafter defined) were 2

7 moved to Memphis, Sponsor would acquire the Project Location (as hereinafter defined) and lease the site to IDUSA for use as its national distribution center in Memphis and Shelby County. 4) Project Professionals Legal Counsel Harry J. Skefos, Esq. Brett A. Schubert, Esq. Jonathan A. Lindsey, Esq. Josh Baker, Esq. Martin, Tate, Morrow & Marston, P.C Poplar Avenue, Suite 1000 Memphis, TN (901) ) Pending and Previous Applications A. IDUSA has no application pending for a payment-in-lieu-of (property) tax ( PILOT ) incentive or industrial revenue bond financing with any other board or community and has received no previous PILOT incentive in the State of Tennessee. This is the first time IDUSA has sought benefits under any of the PILOT Programs offered by the Economic Development Growth Engine Industrial Development Board of the City of Memphis and County of Shelby ( EDGE or Board ). IDUSA previously received a Freeport Warehouse Tax Exemption from the State of Mississippi. B. Applicant has no plans to incur indebtedness or other financial obligations that would have a materially adverse impact on its financial condition. C. Applicant and Sponsor are not aware of any previous professional legal relationship with Board Counsel, and have no reason to believe that Board Counsel or any member of the Board has any material interest in or family relationship with Applicant or Sponsor. 6) The Project IDUSA maintains an office in New York, New York and a national distribution center in Olive Branch, Mississippi at Ridgeway Industrial Drive, from which it distributes its products to customers throughout the U.S., Mexico and Central America. IDUSA has outgrown its distribution facilities in Olive Branch (165,000 square feet), and is searching for a new location for its rapidly expanding logistics operations (the Project ). Applicant has no current operations in Memphis or Shelby County and, therefore, the Project would move a new (and fast-growing) employer to Memphis from DeSoto County. 3

8 7) Project Location If Applicant were to bring the Project to Memphis, it would consider moving its national distribution center to a 500,000+ square foot warehouse facility at 4770 Hickory Hill Road, which is accessed in part by a 1.2 acre tract known as 0 E. Shelby Drive (collectively, the Project Location ). The Project Location would be purchased by Sponsor, and, at least for the immediate future, would provide IDUSA with sufficient space to accommodate its expanding operations. The Project Location currently is owned by TBC Corporation, which is moving its operations to Rossville, Tennessee, after having obtained PILOT incentives from Fayette County and the City of Rossville. The Project Location is located on the east side of Hickory Hill, south of Shelby Drive. The site is located within the city limits of Memphis and is subject to City and County property taxes. The Project Location improvements consist of a Class B 510,310 square foot distribution facility, including 34,472 square feet of office space. Legal Description, Location Map, Aerial and Front Views, Tax/Plat Map, Zoning Map, Building Sketch, and Site Plan for the Project Location are attached as collective Exhibit B. 8) Jobs and Wages The workers at IDUSA s distribution center in Memphis would include order pullers, forklift drivers, warehouse supervisors, office clerks, customer service representatives, accounting personnel, and managers. Applicant anticipates that the Project would create 40 permanent, full-time jobs in Memphis and Shelby County involving a total payroll in excess of $1.9 million per year by CYE By the end of the Project s second year, Applicant s total Project headcount of 40 fulltime jobs would enjoy an average annual base pay of $37,106, and an average annual total compensation (with benefits) of $48,381. (See: Jobs Schedule attached as Exhibit C.) Although the Board typically does not grant additional PILOT incentives for employee fringe benefits, the Board should take into consideration the following benefits when evaluating the Project: Paid holidays/vacation Paid personal/sick time Military leave Paid bereavement leave Medical insurance COBRA 401k retirement plan Employee assistance program 4

9 9) Property Tax Information The Project Location is identified by Shelby County Assessor s Parcel Numbers and , and property tax records from the Assessor s office are collectively attached as Exhibit D. Applicant does not currently own any properties in Shelby County for which property taxes are assessed. 10) Capital Investment Real Property: Item Estimated Cost Land $500,000 Improvements $5,200,000 Sub-Total $5,700,000 1 Tangible Personal Property: Warehouse Racking $929,100 Other Warehouse Equipment $60,400 Office Furniture $10,500 Sub-Total $1,000,000 Grand Total: $6,700,000 IDUSA anticipates capital investment of $5,700,000 for the land and existing improvements at the Project Location. Further, IDUSA projects personal property investment of $1,000,000 under the Project, which property would include racking, warehouse equipment and office furniture, all of which would be new to Shelby County at the time the Board takes title thereto. 11) Other Considerations Logistics Operation for a Fast-Growing, Established Vendor of Automotive and Truck Parts Moving from DeSoto County to Memphis. Recognized Industry Leader. IDUSA s portfolio includes many of the leading 1 Based on current fair market value appraisal. It is anticipated that the Shelby County Assessor of Property will accept this valuation for CY

10 national private label programs, and IDUSA serves leading U.S. filter manufacturers. Premium Guard is Applicant s registered trademark brand, and is positioned as the leader in the automotive filters aftermarket value segment. IDUSA also recently received the Private Brand Supplier of the Year award from National PRONTO Association, one of the largest auto parts buying groups in the United States. Positive Business Synergies. IDUSA imports its products from overseas manufacturers. In the last two (2) decades, IDUSA has been involved in the manufacturing evolution of the automotive aftermarket in Southeast Asia, and is ranked as a pioneer in establishing partnerships and alliances with leading designers and manufacturers in Korea, Taiwan, China, Indonesia, Thailand, Vietnam and Malaysia. These global alliances and partnerships have enabled IDUSA to supply and sale a quality product at a competitive cost. Bringing and growing IDUSA in Memphis would potentially open up the local market to these global partners. 12) Justification for PILOT Request IDUSA is at a crossroads with respect to its national distribution center in Olive Branch, Mississippi. Its distribution operations have expanded to the extent that it has outgrown its current facilities, even having to store product in outside containers. Therefore, IDUSA must decide whether to continue expanding operations in DeSoto County, which may include building more facilities at its current location (which it will retain in any event), or to move to the Project Location in Memphis, which would provide over three times the building square footage/capacity of its current facilities. Applicant believes it is an ideal candidate for EDGE s recently enacted Fast Track PILOT Program, which was created by EDGE for the express purpose of competing with North Mississippi for new businesses. IDUSA is still considering expanding its operations in DeSoto County, and the PILOT incentives offered by EDGE will factor heavily into Applicant s decision regarding whether to move its growing operations to Memphis. The PILOT incentives herein requested will provide the mechanism which offset the costs of acquiring the Project Location and moving IDUSA s national distribution center to Memphis, and will aid IDUSA in growing its business in Memphis in the coming years. IDUSA respectfully requests that the Board give the Project careful consideration in determining an appropriate Fast Track PILOT incentive. IDUSA believes the Project furthers the Board s goals of creating permanent jobs in Memphis and Shelby County, expanding the tax base, and enhancing the local economy. 13) PILOT Incentive Requested IDUSA hereby applies to the Board to grant it the following Fast Track PILOT incentive, consistent with the Board s Charter and its Fast Track PILOT Program Policies and Procedures (the Policies and Procedures ): 6

11 To wit, for a period of not less than ten (10) years (the PILOT Term ), commencing upon the PILOT Commencement Date (as hereinafter defined) with respect to each parcel of real property and item of tangible personal property used by IDUSA in connection with the Project, each such parcel of real property and item of tangible personal property shall be exempt from ad valorem taxation, and IDUSA shall make or cause to be made instead, annual payments in lieu of both Shelby County and City of Memphis property taxes under each real property PILOT lease and each tangible personal property PILOT lease during the PILOT Term, to be calculated as follows: A. With respect to the real property utilized in connection with the Project (City of Memphis and County of Shelby)- One hundred percent (100%) of the land-only tax assessment for the property for the tax period immediately preceding the PILOT Commencement Date times the then-current millage rate plus twenty-five percent (25%) of the then-current ad valorem taxes on the real property improvements that would otherwise have been paid for such year on the property covered by the lease had such property been owned by a tax-paying entity. B. With respect to the tangible personal property utilized in connection with the Project (City of Memphis and County of Shelby)- Twenty-five percent (25%) of the then-current ad valorem taxes which would otherwise have been paid for such year on the property covered by the lease had such property been owned by a tax-paying entity. IDUSA has no current operations in Memphis or Shelby County and, therefore, the Project is not subject to the Netting Provision of the Policies and Procedures. All of the Project Location and Project tangible personal property are eligible for the full benefit under EDGE s Fast Track PILOT Program. After expiration of the PILOT Term, with respect to any real and tangible personal property covered by a PILOT lease, IDUSA shall pay or cause to be paid with respect to such property, until such property is reconveyed by the Board, an annual PILOT payment equal to the City of Memphis and County of Shelby ad valorem taxes that would have been paid were such property then-owned by a tax-paying entity. In every case, the assessment used to determine the PILOT payment shall be as finally determined in any property tax appeal filed with respect to the period covered by such PILOT payment. The term PILOT Commencement Date as to each parcel of real property and each item of tangible personal property means the date upon which such property is acquired by the Board for the benefit of IDUSA as part of the Project. Any contrary provision notwithstanding: i) as to any such property that is added to the Project during the two-year Ramp-Up Period, the PILOT Term shall be no less than a full ten (10) year period; and ii) as to any such property that is added to the Project after the expiration of the Ramp-Up Period the PILOT Term shall be the balance of 7

12 the period commencing upon the date when such property is added to the Project and ending no less than ten (10) years from the effective date of the PILOT lease agreement to which the property is added. 14) Special Requests A. Community Reinvestment Credit The Project Location is already on the tax rolls. Accordingly, Applicant requests that the Board apply the Community Reinvestment Credit ( CRC ) in order to treat the existing improvements at the Project Location as if they were constructed new for the Project. B. Ability to Expand Project to Additional Sites Based on historical trends and projected growth, IDUSA has the potential to double the size of its distribution operations within the next five (5) years. If moved to the Project Location, IDUSA would immediately utilize approximately 300,000 square feet of the 510,310 square foot distribution facility. Therefore, if IDUSA were to increase the size of its operations significantly within the next 5 years, it would not have sufficient space at the Project Location, and the site cannot support any new construction. In such a situation, IDUSA would have to move at least some operations to an additional location. One such location could be Applicant s current location in Olive Branch, which warehouse facility Sponsor will continue to own even if the Project is established in Memphis. As an incentive to expand operations in Shelby County beyond the Project Location, IDUSA requests the flexibility to grow at other location(s) in Memphis or unincorporated Shelby County, in accordance with its business plan, as that plan evolves. Accordingly, IDUSA requests that if its business expands within 5 years of the PILOT Commencement Date such that the Project Location can no longer support adequately IDUSA s operations, IDUSA be allowed: i) to expand its operations to other locations in Memphis or the unincorporated area of Shelby County; ii) that the new location(s) would enjoy a full ten (10) years of PILOT benefits on all real and tangible personal property, subject to the minimum performance standards set forth in Section III.A of the Policies and Procedures ( Performance Standards ); and iii) that the Project Location would enjoy the remainder of its PILOT benefits, subject to the Performance Standards. While the new location(s) would be subject to the Performance Standards, the Board s Netting Provision would not be applied to the PILOT benefits for any of Applicant s facilities in Memphis and/or the unincorporated area of Shelby County. 15) Local Business Participation Program During the PILOT Term, IDUSA will comply with the Minimum LBP Standard in the Local Business Participation Program ( LBPP ) as set forth in Article X of the Policies and Procedures. IDUSA reserves the right to receive additional years for the PILOT Term for accomplishing an exceptional LBPP Plan, as set forth in the Policies and Procedures. 8

13 16) Environmental Impact To the extent required by the Policies and Procedures, Applicant or Sponsor will produce or procure a Phase I Environmental Report. 17) Financial Information IDUSA is a private entity, and its financial information is not in the public domain; therefore, IDUSA will provide the required financial information to a representative of the Board who will review this information in camera. 18) Mayors Letter A letter from Memphis City Mayor Jim Strickland and Shelby County Mayor Mark Luttrell recommending the PILOT incentives for the Applicant was not available at the time this Application was filed. We anticipate that a copy of this letter will be provided to members of the Board at the time of the Board's hearing on this Application. T:\LindseyJ\PILOT\International Distributors\PILOT Application\IDUSA - Fast Track PILOT Application.doc 9

14 APPLICATION REPRESENTATIONS AND COVENANTS This Application is made in order to induce The Economic Development Growth Engine Industrial Development Board of the City of Memphis and County of Shelby, Tennessee (the "Board") to grant financial incentives to Applicant. Applicant represents and warrants that the statements contained herein or attached hereto are true and correct to the best of its knowledge and include all information materially significant to the Board in its consideration of this Application. Applicant has read and agrees to comply with all requirements of the Fast Track PILOT Program Policies and Procedures of the Board. Applicant specifically agrees to pay all reasonable costs, fees, and expenses incurred by the Board in connection with this Application, whether or not the financial incentives are granted or the Project is consummated. Further, Applicant hereby certifies that it is in compliance with Title VI of the 1964 Civil Rights Act (42 U.S.C. $2000d), as amended. APPLICANT: INTERNATIONAL DISTRIBUTORS USA, INC. By: Name: Title: A,n,ut E, Bt:hr-r. Ldo Date: November O'7,

15 APPLICATION REPRESENTATIONS AND COVENANTS This Application is made in order to induce The Economic Development Growth Engine Industrial Development Board of the City of Memphis and County of Shelby, Tennessee (th- "Board") to grant financial incentives to Applicant. Sponsor represents and warrants that the statements contained in this Application pertaining to the Sponsor, including attachments hereto, are true to the best of its knowledge. Sponsor has read and agrees to comply with all requirements of the Fast Track PILOT Program Policies and Procedures of the Board. SPONSOR: PG By: Name: Title: hr1^r,v fi- tsisho."- C-Eo Date: November 01,2016 1l

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18 CONVENTIONAL OIL FILTERS Through an automated production process, IDUSA offers quality oil filters individually tested for leakage and randomly tested for pressure burst. We have capitalized on partnerships with our manufacturers by combining our buying power to source quality raw materials while keeping our cost low. This is one the most competitive categories in the aftermarket industry, where it becomes challenging to be able to deliver a quality product, yet sustain a competitive cost structure. Our Standard Premium Guard filters are engineered for: Traditional oil change intervals 3,000-4,500 mile Optimal for use with conventional and synthetic blend oil Offers up to 96% initial efficiency

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20 EXTENDED LIFE OIL FILTERS To meet the growing demand for extended oil change interval, Premium Guard was the first to launch an imported full line of extended life oil filters. Utilizing synthetic resin media, our product offers 10,000 miles of engine protection with 98% efficiency over the life of the filters. Premium Guard EX series (Extended Life Series), engineered is built with the highest standard utilizing premium components. It offers high capacity for trapping and holding engine contaminant. Our spin-on EX is equipped with a silicone gasket and silicon anti-drain back valve to withstand extreme temperature fluctuations. With close to 50 SKU s and growing, the Premium Guard EX series offers the widest coverage in the industry for extended oil change interval. Our product mix includes mandatory late model coverage as well as older models for customers who are committed to the highest quality parts for their vehicle.

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22 AIR FILTERS Premium Guard offers a full line of air filters with nearly complete coverage for late models as well as older models. Our air filters are available in a broad range of shapes and sizes including panel, ovalconical or trapezium. Our air filters are built to the highest standard to deliver optimal dirt-holding capacity, filtering efficiency and maximum protection for your engine from harmful airborne contaminants. Premium Guard filters consists of a large number of channels arranged parallel to one another and alternately enclosed. Inside, the air stream enters from the raw air side. It s then conducted through the filter paper and flows out through the neighboring open channel on the pure air side. Premium Guard Air Filters are engineered to meet or exceed OEM requirement: Up to 12,000 miles of engine protection from dust and harmful particles Up to 99% efficiency Low-pressure drop, to ensure optimal air flow

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24 CABIN AIR FILTERS For better or worse, America is a nation on wheels. On average, Americans drive 13,476 miles annually (1) and spend an average of one hour and 40 minutes a day behind the wheel. According to an ABC poll, on average, Americans spend about 87 minutes driving a day (2). As traffic congestion continues to grow, air quality on our streets and highways is deteriorating, in addition to dust, pollen and other industrial pollutants. This is a pressing issue because concentration levels and six times worse inside the vehicle than the outside environment. Premium Guard Cabin Filters prevents harmful spores and pollen from entering the vehicle cabin while keeping passengers protected. Cabin filters works much like the air filters used with any HVAC system, whether you furnace at home or at the office. Our premium filters trap up to 99% of airborne contaminants before they enter the interior of the vehicle through way of the heating and air conditioning system. 1. FHWA Federal Highway Administration 2. ABC News (data collection by TNS) PARTICLE CABIN FILTERS These filters keep dust and particles such as pollen, diesel soot, and tire dust away from the interior of the vehicle. Since it s important to achieve a high filtration performance in the space available, we have maximized the filtration area in our cabin filters without affecting the free-flow of air into the passenger s cabin. Premium Guard Particulate Cabin Filters retain virtually all pollen and other unwanted particles.

25 ACTIVATED CARBON CABIN FILTERS ACTIVATED CHARCOAL CARBON Activated Charcoal Cabin Filters offer enhanced capabilities to ensure both clean air and a healthy cabin environment. Along with particle removal, it s empowered with an activated charcoal embedded in the media fibers. This aids in absorbing harmful gases such as nitrogen dioxide, fuels, and ozone. It also helps eliminating odors resulting from molding buildup in the ventilation system. ANTI-BACTERIAL WITH ACTIVATED CARBON Specially engineered filters with three filtration stages to ensure the quality of air inside the car. The initial stage is to eliminate particulate matter of dust and pollen larger than 10 microns, second stage traps mold and harmful gases e.g. carbon-monoxide, Sulfur Dioxide. Lastly, a third stage of special an antibacterial coated material.

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27 FUEL FILTERS Premium Guard fuel filters offer a wide range of application coverage including a variety of designs and materials that matches the OEM fit, function and performance. Quality fuel filters are essential for protecting fuel injection systems from contaminants that may be in the fuel, ensuring optimal performance and fuel economy. Often, fuel has contaminants originating from service station tanks or from corrosion in fuel system components as a vehicle ages. Dirt, rust and water are the major impurities present in fuel. These contaminants can plug injectors and carburetors which can cause engine malfunction. Premium Guard fuel filters are engineered for a long life and of extended service intervals.

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29 TRANSMISSION FILTERS Although it is referred to in the industry as one of the forgotten filters, most car manufacturers recommend that you change the transmission filter every 30,000 miles or every two years whichever comes first. It keeps contaminants out of the transmission fluid. Premium Guard Filters improve transmission performance by protecting sensitive shift control valves. Normal wear and tear can create metal shaving and other fibrous materials that can cause part failure. All our transmission filters are offered with fully packaged complete kits filter and pan gasket. We utilize high-quality rubber gaskets with fitted screw holes for easy installation, also known as a third hand.

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46 INTERNATIONAL DISTRIBUTORS USA, INC. Net New Jobs in Memphis/ Shelby County (as of December, 2018) Position Title # of FTE Annual Base Pay * Annual Overtime Pay Annual Benefits ** Annual Total Comp Workers Each Total Each Total Each Total Each Total General Manager 1 $ 103,000 $ 103,000 $ - 31,000 $ 31,000 $ 134,000 $ 134,000 Manager 2 $ 66,950 $ 133,900 $ - 21,000 $ 42,000 $ 87,950 $ 175,900 Warehouse Supervisor 3 $ 41,200 $ 123,600 $ - 12,500 $ 37,500 $ 53,700 $ 161,100 Customer Service 6 $ 41,200 $ 247,200 $ - 12,500 $ 75,000 $ 53,700 $ 322,200 Accounting 1 $ 41,200 $ 41,200 $ - 12,500 $ 12,500 $ 53,700 $ 53,700 Quality Control 1 $ 37,080 $ 37,080 $ - 11,000 $ 11,000 $ 48,080 $ 48,080 Lift Driver 8 $ 32,960 $ 263,680 $ - 10,000 $ 80,000 $ 42,960 $ 343,680 General Office 4 $ 30,900 $ 123,600 $ - 9,500 $ 38,000 $ 40,400 $ 161,600 Order Puller 11 $ 29,870 $ 328,570 $ - 9,000 $ 99,000 $ 38,870 $ 427,570 Inventory Control 2 $ 27,810 $ 55,620 $ - 8,500 $ 17,000 $ 36,310 $ 72,620 Clerical Accounting 1 $ 26,780 $ 26,780 $ - 8,000 $ 8,000 $ 34,780 $ 34,780 Total 40 N/A $ 1,484,230 N/A $ - N/A $ 451,000 N/A $ 1,935,230 Average N/A $ 37,106 N/A $ - N/A $ 11,275 N/A $ 48,381 N/A * Includes paid holidays and vacation pay; does not include discretionary bonus and stock option grants. ** Health Insurance, Dental Insurance, 401K Plan, Paid Sick Leave, Bonus, etc. T:\LindseyJ\PILOT\International Distributors\Jobs and Wages\Pro Forma Jobs Schedules - PILOT Application (updated ).xlsx

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