Latest news with #PILOT
Yahoo
24-06-2025
- Business
- Yahoo
Healthcare company plans Memphis hub with 100 new jobs
MEMPHIS, Tenn. — A healthcare logistics firm says it is expanding into Memphis, bringing more than 100 new jobs. LifeScience Logistics said Monday it will invest $23.2 million into a 625,000-square-foot climate-controlled warehouse in southeast Memphis. The company says the Memphis site will serve as a critical hub for the safe storage and distribution of pharmaceuticals and medical devices. Korean company to invest $51M in Memphis, creating over 100 new jobs 'Memphis offers a strategic advantage with its central location and strong transportation infrastructure,' said David Cheetham, CEO of LifeScience Logistics, in a news release. 'This new facility enhances our ability to provide rapid, reliable, and compliant logistics solutions while also supporting our clients' business continuity goals.' The new jobs will pay an average wage of $61,000, with some paying six figures, according to the company's PILOT application. The company received a payment in lieu of taxes deal in April, worth $6.2 million. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
17-06-2025
- Business
- Yahoo
Credo Technology Group Holding (NasdaqGS:CRDO) Sees US$37 Million Net Income Turnaround
Credo Technology Group Holding saw a significant share price increase of nearly 80% over the last quarter, coinciding with strong financial performance and strategic product introductions. The company's Q4 revenue grew to $170 million, with a net income turnaround to $37 million compared to a loss last year. Meanwhile, the launch of the PILOT platform and positive fiscal 2026 guidance potentially bolstered investor confidence. Despite market volatility driven by geopolitical tensions in the Middle East and mixed economic data, Credo's robust earnings report and innovative product developments likely offered a positive counterbalance, supporting its substantial stock price ascent. You should learn about the 2 risks we've spotted with Credo Technology Group Holding. Diversify your portfolio with solid dividend payers offering reliable income streams to weather potential market turbulence. The recent achievements of Credo Technology Group Holding, featuring substantial revenue growth and innovative product introductions, significantly influence the company's narrative. By venturing into PCIe products and AEC business, Credo is poised to diversify its revenue streams and amplify revenue growth potential. The promising fiscal 2026 guidance highlights anticipated earnings improvements, generally enhancing market sentiment regarding Credo's financial trajectory. Over the past three years, Credo's total shareholder return was very large, exemplifying substantial long-term share price gains. When compared to the previous year, Credo outshone the US Semiconductor industry, which returned 4.1%, and the broader US market, with a 10.9% gain, thus reflecting its compelling performance. The positive news regarding financials and product development may lead analysts to revise revenue and earnings projections upward. Forecasts suggest a robust revenue trajectory of 40.8% annual growth over three years, propelled by a strategic focus on PCIe and optical DSP technologies. While risks such as customer concentration persist, successful market adoption could ease these concerns. With the current share price at US$43.21, investors may see a 36% increase to the analyst-consensus price target of US$67.47, signaling potential upside if forecasts materialize as anticipated. Learn about Credo Technology Group Holding's future growth trajectory here. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include NasdaqGS:CRDO. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
12-06-2025
- Business
- Yahoo
Business, trade, storage center applies for Monroe County tax incentives
CHILI, N.Y. (WROC) — A new business, trade, and storage center is looking to come to Fisher Road in Chili. Taouk Development is seeking $700,000 in tax incentives from the Monroe County Industrial Development Agency through a PILOT agreement. The total project investment is over $5 million. Taouk seeks to build three buildings on this parcel: two 1,200 sq. ft. units and one 1,500 sq. ft. unit, for a total of 30 flex space units. The application says this new center will support local businesses and foster economic growth in the town of Chili. Apartments, townhomes, proposed for mixed-use development in Perinton The project has had one public meeting in Chili, and the next COMIDA meeting is scheduled for June 17. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
10-06-2025
- Business
- Yahoo
Northern Liberties and Equity Resource Investments Acquire Arbor Crest, Expanding Affordable Active Adult Housing in Silver Spring, MD
BROOKLYN, N.Y. & CAMBRIDGE, Mass., June 10, 2025--(BUSINESS WIRE)--Northern Liberties, a real estate investment firm specializing in workforce housing, and Equity Resource Investments, LLC ("ERI"), a multi-strategy real estate investment firm focused on essential housing and workplaces, today announced the acquisition of Arbor Crest, an 80-unit active adult apartment community located in Silver Spring, Maryland. Built in 2004, Arbor Crest offers one- and two-bedroom residences for adults aged 62 and over, with amenities designed to support the active lifestyles of its residents. Situated just outside Washington, D.C., the property is well-located in one of the region's most accessible suburban markets. As part of the acquisition, Northern Liberties entered into a long-term agreement with Montgomery County through its PILOT (Payment In Lieu of Taxes) program. The structure abates all county property taxes for 20 years in exchange for maintaining rent restrictions for qualified residents earning between 45% to 70% of area median income – and is expected to provide long-term affordability without a reliance on federal subsidies. "We believe this is important for the 'missing middle'—those on fixed or moderate incomes who earn too much for housing assistance, but too little to afford market rents," said Sharif Mitchell, Co-Founder and CEO of Northern Liberties. "By pairing public incentives with targeted capital upgrades and resident-focused services, we believe we can create value for both residents and the property." "We are pleased to partner with Northern Liberties on this investment," added Paul Coelho, Managing Partner at ERI. "This investment aligns with ERI's approach of seeking to invest in essential real estate across markets that we believe have a common theme of affordability and the potential to generate risk-adjusted returns." Mitchell, who grew up in Silver Spring where his grandfather lived in a similar senior community, considers the acquisition a personal milestone. "Coming back to invest in the community where I was raised—it's full circle. It makes the work we do even more meaningful." About Northern Liberties Northern Liberties is a vertically-integrated real estate investment firm focused on workforce housing. By providing strategic capital improvements, hands-on asset management and community-centered resident services, the firm seeks to deliver market rate returns and meaningful social impact. Headquartered in Brooklyn, New York, Northern Liberties is a minority-owned and operated venture, the principals of which have completed over $485 million in investments. About Equity Resource Investments, LLC Founded in 2002, Equity Resource Investments, LLC ("ERI") is a value-oriented, real estate private equity firm investing in the fragmented, inefficient and complex lower middle market. The firm focuses on essential housing and workplaces in the Affordable Housing, Workforce Housing and Value-Add Industrial sectors across the U.S. and also makes certain Special Situation and Opportunistic investments. Based in Cambridge, MA, ERI has invested approximately $1.8 billion of equity into over 1,900 properties as of March 31, 2025. View source version on Contacts For Northern Liberties Deborah Lintondlinton@ (630) 269-5680For Equity Resource Investments Grace Cartwright/Gwyn HodgesERI@
Business Wire
10-06-2025
- Business
- Business Wire
Northern Liberties and Equity Resource Investments Acquire Arbor Crest, Expanding Affordable Active Adult Housing in Silver Spring, MD
BROOKLYN, N.Y. & CAMBRIDGE, Mass.--(BUSINESS WIRE)--Northern Liberties, a real estate investment firm specializing in workforce housing, and Equity Resource Investments, LLC ('ERI'), a multi-strategy real estate investment firm focused on essential housing and workplaces, today announced the acquisition of Arbor Crest, an 80-unit active adult apartment community located in Silver Spring, Maryland. Built in 2004, Arbor Crest offers one- and two-bedroom residences for adults aged 62 and over, with amenities designed to support the active lifestyles of its residents. Situated just outside Washington, D.C., the property is well-located in one of the region's most accessible suburban markets. As part of the acquisition, Northern Liberties entered into a long-term agreement with Montgomery County through its PILOT (Payment In Lieu of Taxes) program. The structure abates all county property taxes for 20 years in exchange for maintaining rent restrictions for qualified residents earning between 45% to 70% of area median income – and is expected to provide long-term affordability without a reliance on federal subsidies. 'We believe this is important for the 'missing middle'—those on fixed or moderate incomes who earn too much for housing assistance, but too little to afford market rents,' said Sharif Mitchell, Co-Founder and CEO of Northern Liberties. 'By pairing public incentives with targeted capital upgrades and resident-focused services, we believe we can create value for both residents and the property.' 'We are pleased to partner with Northern Liberties on this investment,' added Paul Coelho, Managing Partner at ERI. 'This investment aligns with ERI's approach of seeking to invest in essential real estate across markets that we believe have a common theme of affordability and the potential to generate risk-adjusted returns.' Mitchell, who grew up in Silver Spring where his grandfather lived in a similar senior community, considers the acquisition a personal milestone. 'Coming back to invest in the community where I was raised—it's full circle. It makes the work we do even more meaningful.' About Northern Liberties Northern Liberties is a vertically-integrated real estate investment firm focused on workforce housing. By providing strategic capital improvements, hands-on asset management and community-centered resident services, the firm seeks to deliver market rate returns and meaningful social impact. Headquartered in Brooklyn, New York, Northern Liberties is a minority-owned and operated venture, the principals of which have completed over $485 million in investments. About Equity Resource Investments, LLC Founded in 2002, Equity Resource Investments, LLC ('ERI') is a value-oriented, real estate private equity firm investing in the fragmented, inefficient and complex lower middle market. The firm focuses on essential housing and workplaces in the Affordable Housing, Workforce Housing and Value-Add Industrial sectors across the U.S. and also makes certain Special Situation and Opportunistic investments. Based in Cambridge, MA, ERI has invested approximately $1.8 billion of equity into over 1,900 properties as of March 31, 2025.
