Residents

Apply Now for the 2009 Commercial Revitalization Deduction!

Learn More About How to Claim Your Renewal Community Employment Credit

Welcome to the Memphis Renewal Community. On January 21, 2002 the U.S. Department of Housing and Urban Development designated 48 census tracts in the City of Memphis as a Renewal Community. On December 1, 2005, HUD approved a request from the City of Memphis and the State of Tennessee to add 20 census tracts to the designated area, making it one of the largest renewal communities in the country.

The Renewal Community reflects the areas in Memphis which have the greatest need and which offer the best utilization of tax incentives to stimulate business growth. The Renewal Community we envision will not only create economic opportunities but also generate jobs and hope for many Memphis residents. We estimate that the total impact of the 8-year designation will be in excess of $300 million dollars.

This designation brings with it significant federal tax incentives (pdf) to promote economic development and create jobs. It includes many of the areas within the City that have been targeted for significant redevelopment, and it will help the City continue to focus and advance its economic development efforts. For a more thorough explanation of the Renewal Community Tax Incentives, you may wish to view the Tax Incentive Guide (pdf - 6.01 MB) and IRS Publication 954 (pdf - 115 KB).

Your business is eligible to take advantage of many of the Renewal Community tax incentives if you are located in one of the 68 Renewal Community Census Tracts (pdf - 34 KB). Check our Renewal Community Map.

You can check your address at the HUD Address Locator by typing in your address and zip code.  Push "go" and the system will tell you if you are in the Memphis Renewal Community.  To compare your address to the list of Renewal Community Census Tracts, go to the US Census Bureau American FactFinder. Enter your address and zip code to determine your census tract, and compare it to our list of Renewal Community Census Tracts.

The Renewal Community Initiative is a program of the U. S. Department of Housing and Urban Development Office of Community Planning and Development. To learn more about HUD and the Renewal Community Initiative, visit their website at http://www.hud.gov/offices/cpd/ezec/.

For more information:
Call Virginia B. Wilson at 901-636-6457, or
Via email: Virginia.Wilson@memphistn.gov

Thank you again for your visit and your interest. Please check back soon, as we are currently adding to this site.