FedEx Makes Additional $450 Million Investment at Its Memphis Hub
Tennessee Governor Bill Lee joined FedEx officials to announce the company is making an additional $450 million investment to the $1.1 billion Memphis Hub modernization project previously announced in March 2018.
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The investment will now exceed $1.5 billion over the next six years to facilitate construction of a new sort facility, installation of state-of-the-art systems and construction of a new bulk truckload building to support changing e-commerce needs.
“FedEx continues to be both a global leader and a Tennessee icon. In a fast-paced market, we are proud of this company for continuing to invest with an eye on the future and supporting more than 30,000 Memphis area employees.”Tennessee Governor Bill Lee
FedEx Expects to Complete Modernization by 2025
Hub modernization efforts are expected to be completed by 2025 with significant job creation along the way.
The Memphis Hub is home to 11,000 employees.
“Our additional investment will accelerate this modernization project, ensuring that we continue to provide outstanding service to our customers around the world and the best workplace for the thousands of FedEx team members who make our Memphis World Hub operations possible every day and night.”
Raj Subramaniam, and chief operating officer of FedEx Corp.
Paired with Tennessee’s low unemployment rate and increasingly competitive job market, modernization of the FedEx Hub in Memphis will attract and retain team members to fill a variety of positions.
“FedEx is one of Tennessee’s greatest success stories, and this additional investment reinforces FedEx’s commitment to our state and the workforce in West Tennessee. We’ve created a business climate where companies can invest, grow and create quality jobs for Tennessee residents. I would like to thank FedEx for this investment and its continued partnership.”Bob Rolfe, commissioner of the Tennessee Department of Economic and Community Development
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Editorial Note: This post is from a Company Press Release and may have been modified for clarity.