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Old 11-08-2022, 07:16 PM
 
13,353 posts, read 39,963,688 times
Reputation: 10790

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Quote:
Originally Posted by DabOnEm View Post
well the more populated parts of Kentucky would go to Cincy, and a large part of Alabama (including BHam) can get to the Ikea in Memphis easily via I-22. I think there's a good chance Nashville eventually gets one, but the reasons why Memphis got one first is being undersold imo. They have a good location too.
Birmingham to Memphis: 245 miles
Birmingham to Nashville: 191 miles
Birmingham to Atlanta: 147 miles

Huntsville to Memphis: 217 miles
Huntsville to Nashville: 110 miles
Huntsville to Atlanta: 180 miles

An IKEA in Nashville would've been closer to both Huntsville and Birmingham than is the IKEA in Memphis. Memphis gave IKEA $9.5 million while Nashville offered IKEA $0. So guess where IKEA went? I don't know if that $9.5 million was worth it, though, as IKEA's presence has caused locally owned furniture stores in Memphis to close, and IKEA has cut its hours and hasn't lived up to its promise of employing 175 workers at an average salary of $41k. Instead, they have 125 workers with an average salary of $36k.

https://www.commercialappeal.com/sto...ak/3015193002/
https://www.actionnews5.com/2019/02/...ge-benchmarks/
https://reason.com/2021/09/15/memphi...es-went-under/

Officials with the European-based company described just how selective they are in choosing store locations. IKEA’s application revealed the company picked communities based on where it can get the most generous tax incentives.

https://tennesseestar.com/2019/06/24...e-to-autozone/
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Last edited by JMT; 11-08-2022 at 07:27 PM..

 
Old 11-09-2022, 11:44 AM
 
Location: Brooklyn, NY
10,066 posts, read 14,444,601 times
Reputation: 11256
Quote:
Originally Posted by JMT View Post
Birmingham to Memphis: 245 miles
Birmingham to Nashville: 191 miles
Birmingham to Atlanta: 147 miles

Huntsville to Memphis: 217 miles
Huntsville to Nashville: 110 miles
Huntsville to Atlanta: 180 miles

An IKEA in Nashville would've been closer to both Huntsville and Birmingham than is the IKEA in Memphis. Memphis gave IKEA $9.5 million while Nashville offered IKEA $0. So guess where IKEA went? I don't know if that $9.5 million was worth it, though, as IKEA's presence has caused locally owned furniture stores in Memphis to close, and IKEA has cut its hours and hasn't lived up to its promise of employing 175 workers at an average salary of $41k. Instead, they have 125 workers with an average salary of $36k.

https://www.commercialappeal.com/sto...ak/3015193002/
https://www.actionnews5.com/2019/02/...ge-benchmarks/
https://reason.com/2021/09/15/memphi...es-went-under/

Officials with the European-based company described just how selective they are in choosing store locations. IKEA’s application revealed the company picked communities based on where it can get the most generous tax incentives.

https://tennesseestar.com/2019/06/24...e-to-autozone/
Good info.

Plus, IKEA was planning on starting to build that store in Nashville, when they announced they were cutting all new store expansion plans. Can't recall when that was, either 2019 or 2020, roughly.

IKEA closed a store here in NYC, in Queens, recently. But they are over built in this area, in my opinion. One store in Brooklyn, Long Island, Connecticut and northern New Jersey.

Anyway, yes, I've also read that the Memphis store is not doing "as well" as IKEA had hoped. Hoping they don't close it, but I would not be surprised, since the company is pivoting to smaller urban footprints and ecommerce.

Good to keep an eye on the company, see how things pan out.
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