Inside Memphis Business
by Jon W. Sparks and Samuel X. Cicci

What's happening: Local rents up ... by a dollar
News from other sources: Greenhouse gas plan
Upcoming: Innovation Awards
Hot Sheet: Who’s going where
Power Player: Patti Phelps
Quotable: John Zeanah

- Peak rental season is winding down, marking the lowest increase rate since February. According to a study by RentCafe, rents in Tennessee have seen slowdowns, while the cost in some cities has even declined. Unfortunately for Memphis, it's the only city in the area that saw an increase, albeit miniscule, in the monthly rent average. It went up by $1, bringing it to $807. However, Memphis is still a large U.S. city with one of the cheapest average rents, so there's not too much room for complaints.

For Germantown, rents plateaued in August but still remain among the highest rates in Tennessee with an average of $1,575 per month. Collierville, on the other hand, had the largest rent decrease in the state with an $18 drop to $1,254. The overall Memphis metropolitan area saw a 33 percent increase in apartment construction this year, with estimates showing around 1,033 new projects in the pipeline for the end of 2019. For more information, see the full Tennessee report here.

-Samuel X. Cicci

- The Big Cypress Lodge hotel, which is the very definition of rustic, is opening its 7,000 square-foot Mississippi Terrace outdoor lounge overlooking the Mississippi River from the Pyramid's third floor. Hours are 5 p.m. to 11 p.m. Thursdays-Saturdays. It's also available for private events. 

- The research firm Yardi, using data from the Bureau of Labor Statistics, took a look at which professions are in decline and by how much. Manual Cutters and Trimmers represent the fastest declining occupation in Tennessee, with an 83 percent decrease, from 580 employees in 2009 to 100 in 2018. In most U.S. states, from the Midwest to the South and North Pacific, the fastest declining occupations belong to the industrial sector, mostly due to automation. And the fastest declining job category nationwide is represented by Farm Labor Contractors, which decreased 80 percent over the past 10 years.
IMB Innovation Awards

- Memphis is close to having its first action plan specifically aimed at reducing greenhouse gas emissions. Read Maya Smith's story in the Memphis Flyer here.

- Tough week for FedEx, although some experts say it could rebound if the economy holds. Read Wayne Risher's story in the Daily Memphian here.

- Memphis International Airport passenger volume is on the upswing. Read Corey Davis' story in the Memphis Business Journal here.


- Inside Memphis Business Innovation Awards: The magazine's annual celebration of innovative people and organizations honors four winners. Friday, September 27th at University of Memphis Holiday Inn, 7:30 a.m.-9 a.m. For tickets, go here.

- 3rd Annual Total Woman Summit: Sherica Hymes’ event empowers women through education, connection, and community with this year’s theme of SOARing in every phase of life. Saturday, September 28th, 10am-3pm. Great Hall & Conference Center, 1900 S. Germantown Rd., Germantown, TN. $75/person; $1,000/VIP table. Register here.

- The Memphis Grilled Cheese Fest is Sunday, Nov 10, 2019, from noon to 6 p.m. at 412 N. Cleveland. It's family-friendly and dog-friendly, benefitting ALIVE Memphis Rescue. More info here.
- Need to know what to do this weekend? Check out Memphis magazine's Five Things To Do This Weekend here.
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Who's getting promoted? Who's closing big deals? Who's getting awards? Inside Memphis Business magazine's Hot Sheet has the latest on milestones in Memphis.

- Start Co. Chief of Staff, Katie Milligan, graduated from the Delta Leadership Institute Executive Academy.

- Legacy Supply Chain Services announced the relaunch of its Olive Branch, Miss. location as a multi-client eCommerce fulfillment and distribution facility. 

- Precision Healthcare, a subsidiary of BAI Healthcare Services, Inc., has promoted current CFO and COO Brian Smith to president, and has hired Jeff Piscadlo as vice president of business development. The company manages nine infusion centers in Tennessee and Arkansas that offer patient centric, provider and clinically advanced infusion services.

Inside Memphis Business magazine publishes a list of local Power Players every year. These are the movers and shakers in more than 30 categories who get things done in their respective fields. IMB’s April issue has the complete list. We also publish individual categories in other issues throughout the year, and we feature individual Power Players in our weekly Tip Sheet.
This week’s Power Player is Patti Phelps, owner and CEO, Phelps Security, Inc. Company founded in 1953 by Lloyd Phelps, Sr. After attending MSU and a career as sales manager for OES, Inc., purchased Phelps Security, Inc. with her late husband, Lloyd Phelps, Jr. Co-founder, B.I.G. for Memphis. Board Member, CrimeStoppers and Memphis Fallen Officer Memorial. Past board member, COMEC. Past Committee Chair, BOMA Emergency Preparedness Committee. More than 35 years experience managing and operating one of Memphis’ oldest security companies. Nationally certified, Woman-Owned Business.
For the complete list of Inside Memphis Business Power Players, go here.

Memphis is getting hotter. I’m not sure I have to convince you of that if you’ve been here the last couple of weeks.”

- John Zeanah, director of the Memphis and Shelby County Office of Planning and Development, on a new plan to reduce greenhouse gas emissions.
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Copyright © 2019 Contemporary Media, Inc., All rights reserved.

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