Major Businesses Move to Memphis — More Announce Expansions

Memphis is experiencing a surge in economic momentum, accelerated by major corporate investments and by being one of the most strategically valuable logistics corridors in the United States. The region’s combination of rapid industrial growth, large-scale infrastructure projects, and a steadily expanding employer base continues to outperform similar midsized metros. For real estate investors, these developments paint a compelling picture: rising job growth, sustained population inflow into the suburbs, and long-term demand for high-quality single-family rentals.

“Global companies are building multi-decade footholds here, and that translates directly into long-term housing demand,” explains Justin Burns CFO at Meridian. “The more job opportunities there are in this area, the more high-quality renters needs housing.”

Let’s talk about what’s happening in Memphis and how each of these big moves is impacting the housing market potential.

10+ Companies Investing in Memphis

1.  Google: Billion Dollar Tech Investment in West Memphis

Latest news: Google announced a major Memphis-area data center investment, allocating billions in capital to support AI and cloud computing infrastructure.

Google’s data center operations in the Memphis metro area represent a significant expansion of the region’s technology ecosystem. These high-wage tech jobs strengthen the economy and signal to investors that Memphis is no longer just a logistics hub—it’s becoming a digital delta. Tech-sector growth is especially impactful for single-family rental markets, as these workers often seek high-quality new construction homes in suburban communities. Reports vary, saying Google will invest around $4 billion and possibly up to $10 Billion into the West Memphis Campus.

Projected jobs: Estimated 50–100 highly skilled jobs typical for hyperscale data centers, with hundreds of indirect construction jobs.

📊 Read The Business Report – Google Data Center (West Memphis Campus) Report

2.  Ford BlueOval City: A Once-in-a-Generation Economic Driver

Latest news: Construction remains underway on Ford’s $5.6 billion electric vehicle and battery campus, with supplier commitments expanding around the site.

This is the largest project in Tennessee’s history and it continues to reshape the region. BlueOval City, Ford Motor Company’s multi-billion-dollar electric vehicle campus, is bringing thousands of high-skilled jobs to West Tennessee. This project anchors an entire industrial corridor stretching from Memphis to the east, attracting suppliers, manufacturing partners, and advanced logistics firms. Its long-term employment footprint is projected to shape rental housing demand for decades, especially in nearby communities like Oakland, Somerville, Arlington, and the I-40 growth corridor.

Projected jobs: Approx. 5,700 direct jobs at the Ford facility and up to 27,000 total jobs when including suppliers and indirect impact.

📊 Read The Business Report – Ford BlueOval City Report

3.  xAI : Elon Musk’s New Super Computer Campus

Latest news: Elon Musk’s xAI announced a massive new “supercomputer” project tied to the Memphis region, reinforcing the national shift toward large-scale AI infrastructure.

xAI announced plans to build one of the world’s largest supercomputing facilities in the Memphis region to power advanced AI training. xAI assumed the 785,000-square-foot former Electrolux manufacturing campus, a facility with the power capacity, space, and logistics needed to support large-scale computing and high-performance infrastructure operations.The Memphis MSA is strategically positioned with available power capacity, land, and transportation logistics—key requirements for large AI facilities. These investments create high-wage technical and operational jobs that elevate the region’s long-term economic resilience.

Projected jobs: The Greater Memphis Chamber reports that xAI’s Memphis operation is expected to bring up to 500 quality, high-paying jobs in its first phase.

📊 Read The Business Report – xAI Super Computer Memphis Campus Report

4.  AAON: Cutting-Edge Data-Center Cooling Comes to Memphis

Latest news: AAON is investing $238.5 million to repurpose a 787,000-square-foot advanced manufacturing facility in Memphis, expanding production capacity for HVAC and data-center cooling equipment.

The company’s massive investment into a Memphis location will dramatically increase its production capacity, particularly for cutting-edge HVAC and data-center cooling equipment, a sector experiencing rapid global demand. Memphis itself is home to several mega data centers and more are moving to the area. For real estate investors, this signals another long-term anchor employer with strong wage potential and stable job growth—qualities that translate into steady rental demand for professionally managed single-family homes in nearby suburbs. AAON Manufacturing’s achievements include surpassing $1 billion in sales in 2023.

Projected Jobs: AAON expects to create 828 skilled jobs at their Memphis location over the next five years of operation.

📊 Read The Business Report – AAON’s Memphis Manufacturing Campus Report

5.  Memphis Medical District: St. Jude’s $12.9 Billion Investment

Latest news: St. Jude’s $12.9 billion, multi-year plan is the largest in the hospital’s history, with a 2022-2027 timeframe.

The Memphis Medical District is one of the region’s most powerful economic engines—anchored by major institutions including St. Jude Children’s Research Hospital, Methodist Le Bonheur Healthcare, Baptist Memorial Health Care, and the University of Tennessee Health Science Center. Together, they form a concentrated cluster of research, clinical care, biotechnology, and higher education. The district continues to see new development, reinvestment, and campus expansions that support long-term job creation across specialized medical, administrative, and support fields. These roles attract stable, career-oriented tenants and consistently rank among the strongest employment categories in the metro. Beyond logistics and tech, Memphis has a thriving medical and life sciences economy. St. Jude Children’s Research Hospital continues to expand its campus with multi-billion-dollar commitments. The surrounding Medical District anchors medical, research, education, and clinical jobs that elevate Memphis’ status as a healthcare center. These high-wage professions support strong demand for new construction rentals in suburbs with easy access to downtown employment.

Projected jobs: The district supports over 30,000 existing jobs with thousands more projected through ongoing research, clinical, construction, and administrative expansions.

📊 Read The Business Report – Memphis Medical District Report

6.  FedEx Memphis Superhub: A Dominant Economic Engine Expands

Latest news: FedEx is in the midst of a multi-billion-dollar modernization of the Memphis SuperHub to increase automation, speed, and overnight capacity.

Memphis is home to FedEx’s global hub, one of the most sophisticated logistics operations in the world. The company has continued to expand regional facilities, modernize its fleet, and invest in automation. Because logistics remains one of the most stable job sectors nationally, the FedEx presence continues to support consistent rental demand—particularly among workers who prefer suburban living while commuting to Memphis International Airport or nearby distribution centers.

Projected jobs: FedEx already employs 30,000+ people in Memphis; modernization is expected grow several thousand jobs over time – no fixed number announced at this time.

📊 Read The Business Report – FedEx Memphis SuperHub

7.  Amazon: Growing Its Regional Distribution Footprint in Memphis

Latest news: Amazon plans a 930,000-square-foot inbound cross dock facility in Marshall County, Mississippi (in the greater Memphis region). Expected completion in the next 2-3 years.

Amazon’s facilities throughout the Memphis metro, including major fulfillment centers in northern Mississippi, add another layer to the region’s logistics strength. These operations support thousands of jobs and reinforce the area’s identity as a distribution capital. Since many of these jobs are logistics, distribution, or fulfillment‐related—they tend to anchor stable occupancy, modest incomes, and  consistent rental-demand in suburban communities. Continued e-commerce expansion makes these centers long-term anchors for employment growth.

Projected jobs: The Memphis-area network supports 5,000–6,000 jobs, and the new facility is projected to bring about 1,000 new jobs to Marshall County.

📊 Read The Business Report – Amazon Fulfillment Center, Memphis

8. Nike: A Global Brand with Deep Memphis Roots

Latest news: Nike is scaling operations at its largest global distribution campus, adding automation upgrades and expanded throughput capacity.

Nike’s North America Logistics Campus in Memphis is one of the largest distribution facilities in the region. The facility in Memphis is described by the Tennessee Department of Economic and Community Development as the company’s largest distribution centre globally — approximately 2.8 million square feet in size, consolidating Nike’s three major product lines (footwear, apparel, equipment) under one roof.  It supports the company’s nationwide operations and continues to see reinvestment. High workforce demand at Nike’s complex contributes to ongoing housing needs in suburban areas.

Projected jobs: Approximately 3,000 jobs across the Memphis logistics hub.

📊 Read The Business Report – Nike’s North America Logistics Campus in Memphis Report

9. Delta Air Lines: Expanding Technical and Aviation Roles

Latest news: Delta is expanding its Memphis maintenance and training operations as part of a broader national fleet modernization effort and they started a new cargo-handling contract with HHS Aviation.

Delta has maintained a significant operational footprint in Memphis for decades, and its recent expansion reinforces the city’s relevance within national aviation networks. The airline is investing in maintenance, training, and operational infrastructure in the region, strengthening Memphis as a key technical hub. This growth supports a wide range of aviation mechanics, technicians, and operations specialists—roles that bring steady incomes and require long-term residency. For investors, Delta’s continued investment enhances Memphis’ employment stability and expands the pool of tenants seeking modern, well-managed single-family rentals, especially in high-demand suburbs just outside the airport corridor.

Projected jobs: Estimated 200–300 technical and aviation roles projected over the expansion period.

📊 Read The Business Report – Delta Airlines Memphis Operations Report

10. Dell Technologies, NVIDIA & Supermicro: Powering the Memphis AI Cluster

Latest news: Memphis’ emergence as a national AI infrastructure hub is being accelerated by three global technology leaders—NVIDIA, Dell Technologies, and Supermicro—who are supplying the advanced hardware that powers xAI’s “Colossus” supercomputer campus.

Together, these companies are enabling one of the most ambitious supercomputing deployments ever attempted in the United States. NVIDIA has already supplied the first wave of H100 GPU clusters, Dell delivered tens of thousands of AI-optimized servers, and Supermicro provided more than half of the liquid-cooled racks and high-density systems required to stabilize the supercomputer’s rapid expansion. The combined effort is positioning Memphis as a critical operational hub in what economic leaders are calling the “Digital Delta.”

For real estate investors, the involvement of these Fortune 500 and global technology leaders signals more than just technical support—it represents a multi-year commitment to local AI infrastructure that will attract ongoing engineering teams, contractors, technicians, and advanced manufacturing partners. This level of high-tech activity elevates regional wages, strengthens the broader local economy, and increases long-term demand for high-quality rental housing across key Memphis suburbs.

Projected jobs: The Greater Memphis Chamber notes that xAI’s expanding operation—powered by these firms—will support hundreds of high-paying technical and operational roles as the supercomputer scales toward its goal of 1 million GPUs.

📊 Read The Business Report – Dell Technologies, NVIDIA & Supermicro Report

Why Memphis?

Why Major Corporations Are Choosing Memphis

The decisions from Ford, Google, xAI, Amazon, Nike, and others are not random. They reflect structural advantages that differentiate Memphis from other metro areas. Here are the reasons why big businesses are investing in Memphis.

Strategic Distribution and Transportation

Memphis is the nation’s leading intermodal logistics hub with a rare combination of rail, river, runway, and road assets. Memphis International Airport is the world’s busiest cargo airport in the U.S., and the region’s highway network offers unmatched connectivity. The recently announced “Kings Crossing” I-55 bridge project strengthens West Tennessee’s infrastructure even further.

Business-Friendly Environment

Tennessee’s regulatory environment, tax structure, and pro-development policies attract major employers seeking predictable operating conditions. Investors benefit from the same environment, with faster permitting, clear landlord laws, and stable municipal planning.

Competitive Cost of Living and Quality Construction

Compared to high-cost coastal markets, Memphis offers affordability that appeals to both residents and employers. For investors, this translates to attractive rent-to-price ratios and the ability to acquire high-quality, newly built homes at accessible price points.

Declining Crime and Increased Investment in Public Safety

Recent years have shown meaningful improvement in crime trends across Memphis, particularly in suburban areas where Meridian builds. These gains, paired with targeted safety investments, have contributed to rising home values and increased consumer confidence.

Similar to the way we evaluate real estate markets for investors, major corporations have done their due diligence and Memphis is a winner.

The Next Decade of Memphis Real Estate and Business

Over the past 10 years, Memphis has demonstrated strong appreciation driven by population growth in the suburbs, rising rental demand, and steady job creation. The next decade is poised to build on this momentum. Large corporate investments typically unfold over 20–40 years, and each new facility encourages additional suppliers, contractors, and service businesses to enter the market.

For investors, this means:

• More stable and diversified economic drivers
• Growing demand for high-quality rental housing
• Stronger long-term appreciation in suburban markets
• Rising competition for well-built, professionally managed homes

Risk-Adverse Investment Property Near Memphis

“Investors today are looking for durable markets—places with job stability, population growth, and reliable rental demand. Memphis checks every box,” said Burns.

The region’s expanding economic base and wave of major corporate projects are reinforcing steady home price growth across the suburbs. Each long-term investment signals strong confidence in Memphis’ future and contributes to a more resilient housing market.

With its rare combination of affordability, economic diversity, and business-friendly regulations, Memphis continues to attract companies, talent, and development. For investors, that translates into sustained demand, healthy occupancy, and solid appreciation over time.

Communities such as Oakland, Olive Branch, Somerville, and Byhalia are positioned to benefit the most, as they offer new construction housing close to major employment centers but outside the congestion of central Memphis.

If you are considering investing in Memphis, our turnkey real estate investment properties and full-service property management make it easy to invest out-of-state. Meridian has been investing in and developing homes in the Memphis region for nearly two decades. Our company focuses on Class A new construction, durable designs, and stable communities with strong rental performance. If you have read this far in the article, you know by now that we have done our homework.

Memphis’ Momentum Is Just Beginning

As these major companies expand, invest, and anchor long-term operations in the region, Memphis is entering a new era of economic strength. Whether it’s world-leading logistics giants, cutting-edge AI and technology partners, or global brands expanding their largest U.S. campuses, each announcement reinforces the same reality: Memphis is becoming one of the most strategically important growth markets in the country.

These commitments aren’t short-term projects—they’re multi-decade investments that shape how people work, live, and build their futures. With every new facility, infrastructure upgrade, and high-wage job created, the region gains a deeper foundation of economic stability. That foundation supports population growth, strengthens local wages, increases consumer confidence, and fuels ongoing demand for high-quality rental housing in the surrounding suburbs.

For real estate investors, this is the type of market environment that offers both resilience and long-term opportunity. As Memphis continues to attract global companies and expand its economic base, the region’s housing market is positioned to remain strong for years to come. Stable jobs, rising incomes, and new employment hubs all point toward a future where professionally managed, newly built single-family rentals continue to outperform.

In many ways, the momentum building today reflects the beginning of Memphis’ next chapter. The companies establishing a presence here aren’t just opening facilities—they’re placing long-term bets on the region’s potential. And for investors looking for durable markets with strong fundamentals, Memphis stands out as a city poised for sustained growth, stability, and opportunity well into the next decade.

What do you want to know about Memphis real estate?

If you’re curious about Memphis, exploring investment options, or simply want to understand what these developments mean for the housing market, we’re always here to help. Meridian has been investing in this region for nearly two decades, and we’d be glad to answer your questions, share insights, or talk through your goals. Reach out anytime — we love helping investors discover what Memphis has to offer.

Contact Meridian About Memphis

Sources:

BlueOval City – Ford Motor Company – https://www.ford.com/blueovalcity
Google Data Centers – https://about.google
xAI Colossal Computer Announcement – https://x.ai
FedEx – Company Information – https://www.fedex.com
Amazon Fulfillment Centers – https://www.aboutamazon.com
Nike North America Logistics Campus – https://www.nike.com
Memphis Medical District Collaborative – https://mdcollab.org
Tennessee Economic and Community Development – https://tnecd.com
Memphis International Airport Cargo Rankings – https://flymemphis.com
Local Memphis – https://www.localmemphis.com