Real estate company to expand in Memphis, create 300 jobs

MEMPHIS, Tenn. (AP) – Real estate company LEDIC plans to add 300 employees in Tennessee, including a high-tech new headquarters proposed in East Memphis.

Media outlets report that company officials announced the $10.2 million expansion Wednesday.

LEDIC chief executive Pierce Ledbetter says the company hopes to receive incentives of less than $1 million to use for a training and technology center in a new headquarters. Ledbetter says the company had considered moving its headquarters to Austin, Texas, but ultimately decided to stay in Memphis to take advantage of a high-speed fiber-optic line.

Memphis Chamber of Commerce President Phil Trenary described the annual salaries of the 300 expected new jobs as middle-class wages.

LEDIC manages 40,000 apartment units and employs 1,000 workers around the country.