Ikea looks to open its first store in Tennessee

CONSHOHOCKEN, Pa. - Ikea hasa proposed plans for a possible store in the city of Memphis, Tennessee that could increase the Swedish retailer’s presence in the Southeastern United States as its first store in the state.



The potential store could open as early as fall 2016 and is contingent upon receiving all governmental approvals.



Proposed for a location in the Wolfchase corridor, 15 miles east of downtown Memphis, the 269,000-sq.-ft. possible Ikea store and more than 1,000 parking spaces could be built on 35 acres along the southwestern side of Interstate-40 near Germantown Parkway exit. The retailer also would evaluate potential on-site power generation to complement its current renewable energy presence at nearly 90% of its U.S. locations.



“We are excited at the possibility of growing our southeastern U.S. presence with a potential Memphis store,” said Ikea U.S. CFO Rob Olson. “This proposed location in such a vibrant retail corridor could provide our already 37,000 Memphis-area customers their own store and introduce the unique Ikea shopping experience to other consumers throughout western Tennessee, northeastern Arkansas, Northwestern Mississippi, and beyond.”



In addition to the more than 500 jobs that could be created during the construction phase, approximately 225 coworkers could join the IKEA family as a result of opening the potential store. An IKEA Memphis store also could provide significant annual sales tax revenue for local governments and schools.