New York-based ad agency will open Memphis office

With a $112 million Navy contract as incentive, a large New York-based advertising firm will open a Memphis office.

The new Young & Rubicam Inc. (Y&R) office will house 50 employees at Brinkley Plaza Downtown who will work on helping the Navy recruit. The firm intends to infuse the Memphis team with "top talent from the region." Y&R will work in partnership with affiliates Wunderman, Burson-Marsteller, VML and MEC, all part of the global WPP plc.The Navy contract -- estimated to be worth as much as $457 million over the next five years -- is not the sole focus of the new office. The office's managing director will be actively engaging new clients to expand Y&R's work in the area.