This week’s newest investments and expansions

Wright Medical Group planning $4.3 million expansion in Arlington

Wright Medical Group Inc. has plans for a $4.3 million expansion of its facility in Arlington. The manufacturing and distribution operations at 11564 Memphis Arlington will gain approximately 52,000-sq. ft. of warehouse and office space.

In January, Wright Medical completed a $290 million sale of its hip and knee implant business to MicroPort Scientific Corp. of China. Wright Medical moved its headquarters to Cherry Road in East Memphis near the Dixon Gallery & Gardens and Memphis Botanic Garden while its manufacturing and distribution remains in Arlington.

H&M Construction Co. is the contractor in charge.

New BankTennessee branch in Munford

BankTennessee, the 80-year-old institution headquartered in Collierville, will break ground on a new branch site in Munford on April 22.

The 3,267-sq. ft. branch will be located on an acre at 26 Munford Ave. on the northwest corner of Highway 51. The branch will feature an expandable second floor and the design will mirror that of the branch in Ripley, Tenn. Hugh Northern is the architect and the contractor is R.L. Coulston & Sons of Covington, Tenn.

“We have outgrown our current facility, and it’s important for us to have a strong presence in the community with a highly visible, accessible site,” said Bret Whitley, the bank’s tri-county President, in a prepared statement. “This location meets that need and will allow us to better serve the community.”

In 2013, BankTennessee had one of its best years in history, earning $2.7 million in assets of $243,766,298.

The bank currently operates seven retail offices. The new branch is expected to open in October and replace the existing location at 13690 Hwy. 51 South.

Continental Tire seeking PILOT for new $1.5 million facility

Continental Tire the Americas LLC is seeking a tax break in the form of payment-in-lieu-of-taxes freeze from the Economic Development Growth Engine (EDGE) of Memphis and Shelby County for a retreading, service and sales center at 3474 Winchester Rd. Continental AG is one of the world’s largest automotive suppliers.

The project will cost $1.5 million, and the 5-year PILOT would save the company $161,325 while producing $616,281 in tax revenue. In addition, 25 new jobs would be created at an annual average wage of $41,814.

The property on Winchester sits on 3.5-acres and has been assessed at $364,960.