Memphis, Tennessee

Memphis, Tennessee

Economy

The city?s location is central has lead to much of its business development. Located on the Mississippi River and intersected by two Interstate highways and seven major U.S. highways, the city is ideally located for commerce among the transportation and shipping industry. The city is also home to the world's busiest cargo airport, in terms of tonnage, which serves as the primary hub for FedEx shipping. Due to its location, more major metro areas can be reached overnight from Memphis than any other city in the central U.S. Memphis has also developed as a major manufacturing center of textiles, heating equipment, pianos, and automobile and truck parts. Memphis Light, Gas and Water ("MLG&W") is also one of the largest municipal utitilites in the United States.

Related Topics:
Interstate highways - Airport - FedEx - Manufacturing - United States

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Memphis is home to a growing number of nationally and internationally known corporations, including approximately 150 businesses from 22 countries. This includes the corporate headquarters of two major Fortune 500 companies, including FedEx Corporation and AutoZone Incorporated. A third company, International Paper, recently announced on August 16, 2005, that it will be relocating its global headquarters from Stamford, Connecticut. Other corporations with a major presence in the area include Back Yard Burgers, Belz Enterprises, Buckeye Technologies, First Tennessee Bank, Guardsmark, Hohenberg Bros. Co., Harrah's, Hilton, ServiceMaster, and Morgan Keegan & Company, Inc.. Northwest Airlines also operates a major hub at Memphis International Airport, with daily nonstop flights to Amsterdam.

Related Topics:
Fortune 500 - FedEx Corporation - AutoZone Incorporated - International Paper - August 16 - 2005 - Stamford, Connecticut - Back Yard Burgers - Belz Enterprises - Buckeye Technologies - First Tennessee Bank - Guardsmark - Hohenberg Bros. Co. - Harrah's - Hilton - ServiceMaster - Morgan Keegan & Company, Inc. - Northwest Airlines - Memphis International Airport - Amsterdam

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The entertainment and film industry has also developed in recent years in the city. Several major motion pictures have been filmed in Memphis in recent years, including Mystery Train (1989), Great Balls of Fire! (1989), Memphis Belle (1990), The Firm (1993), A Family Thing (1996), The People vs. Larry Flynt (1996), The Rainmaker (1997), Cast Away (2000), 21 Grams (2003), Hustle & Flow (2005), Walk the Line (2005), and Forty Shades Of Blue (2005).

Related Topics:
Entertainment - Film - Mystery Train - 1989 - Great Balls of Fire! - Memphis Belle - 1990 - The Firm - 1993 - A Family Thing - 1996 - The People vs. Larry Flynt - The Rainmaker - 1997 - Cast Away - 2000 - 21 Grams - 2003 - Hustle & Flow - 2005 - Walk the Line - Forty Shades Of Blue

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The city appeared in the top eight of the 50 best major metro areas in the U.S. for starting and growing a business in 2000, according to Inc. magazine. Southern Business and Development magazine ranked Memphis as one of the most successful models for economic development in the south, also recognized the city as one of the top ten markets over the past decade. In October 2002, Ebony Magazine has cited Memphis as a city for its outstanding African-American leadership. Memphis also had the highest rate of high technology start-up operations over the last three years among the nation?s 60 largest metro areas, according to Brandow Company research.

Related Topics:
2000 - Inc. magazine - October - 2002 - Ebony Magazine - African-American

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