Wiseacre expects to bring at least 40 jobs to Downtown with new brewery
The new Wiseacre brewery planned for Downtown cleared a hurdle with the approval of a 15-year payment-in-lieu-of-taxes incentive Tuesday morning.
The PILOT will save Wiseacre about 75 percent of its property tax obligation each year the incentive is in place.
Brett Roler, vice president of planning and development for the Downtown Memphis Commission, said the project will be a boon for the neighborhood. At the corner of B.B. King Boulevard and Vance Street, the brewery and taproom is expected to serve as a connection point between the South Main and South City developments.
"We know that local breweries and taprooms can really be catalytic for emerging neighborhoods and help attract people and investment into neighborhoods," Roler said before the Center City Revenue Finance Corp. unanimously approved the PILOT.