Home » NEWS » FedEx to invest additional $450 million to modernize hub

FedEx to invest additional $450 million to modernize hub

FedEx Corp. is investing an additional $450 million to improve operations at its busy hub in Memphis, Tennessee.

The shipping giant’s announcement Friday at Memphis International Airport increases its investment toward modernizing its Memphis hub to about $1.5 billion.

The company announced in March 2018 a $1.1 billion plan to build a sorting facility, install new systems and construct a new bulk truckload building to support internet commerce needs. FedEx has said the investment will help improve its efficiency and reliability as it delivers packages throughout the world.

Officials say the modernization is expected to be completed by 2025. The Memphis hub currently has 11,000 employees, and more jobs are expected to be added.

Tennessee Gov. Bill Lee says FedEx’s investment shows that Tennessee is “open for business.”

BEFORE YOU GO…

… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.

If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.

Click for more info

About Associated Press