DMC Incentives at Work: Building Downtown — $20 Million in Investment
We know large-scale catalytic developments often make headlines, but it’s the small businesses, local restaurants, and entrepreneurs that also support and sustain Downtown Memphis’s growth. That’s why DMC continues to prioritize strategic incentives that activate vacant spaces, support business expansion, and development.
In 2023, the DMC helped bring $15 million in development to life, leveraging just $1.6 million in incentives. In 2024, over $5.1 million in projects were completed with only $515,000 in incentives. These incentives are funded exclusively by fees paid by commercial property owners Downtown. Both years of investment were made possible through DMC’s affiliate board, the Center City Development Corporation (CCDC), which has played a vital role in launching new businesses, revitalizing neglected properties, and helping small businesses grow throughout the Downtown core.
Some recent highlights include the openings of Memphis Filling Station, After Burners Cigar Lounge, Zio Matto Gelato, Bar Limina, and the return of Felicia Suzanne’s, with new dining spots like JEM Dining adding fresh energy to the culinary scene. The highly anticipated Hotel Pontotoc is set to open soon in the South Main area of Downtown.
Main Street Sounds, a program recently launched by the DMC, brings live music and street performances to the Main Street Mall, spanning from Jefferson Avenue to Peabody Place. Running from late June through late September, performers—ranging from singers and instrumentalists to magicians and jugglers—help create an energetic, welcoming environment during lunch and dinner hours on Wednesdays, Fridays, and Saturdays. Artists are paid to help enhance the everyday experience of Downtown.
Programs like Open on Main further support entrepreneurs and small businesses by reducing barriers to entry, activating available spaces, and strengthening the vibrancy of Downtown.
Learn more about how DMC is driving smart, inclusive growth—click here.