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Memphis News & Weather | Memphis, TN | WATN - localmemphis.com

FedEx announces $450 million additional investment to Memphis Hub

(TN DEPT. OF ECONOMIC & COMMUNITY DEVELOPMENT NEWS RELEASE) – Today, Tennessee Governor Bill Lee joined FedEx Corp. officials to announce the company ...

(TN DEPT. OF ECONOMIC & COMMUNITY DEVELOPMENT NEWSRELEASE) – Today, Tennessee Governor Bill Lee joined FedEx Corp. officials toannounce the company is making an additional $450 million investment to the$1.1 billion Memphis Hub modernization project previously announced in March 2018.

The investment will now exceed $1.5 billion over the nextsix years to facilitate construction of a new sort facility, installation ofstate-of-the-art systems and construction of a new bulk truckload building tosupport changing e-commerce needs.

“FedEx continues to be both a global leader and a Tennesseeicon,” said Lee. “In a fast-paced market, we are proud of this company forcontinuing to invest with an eye on the future and supporting more than 30,000Memphis area employees.”

Hub modernization efforts are expected to be completed by2025 with significant job creation along the way. The Memphis Hub is currentlyhome to 11,000 employees.

“Thank you to Governor Lee and the State of Tennessee fortheir support of FedEx and this transformational project at the FedEx ExpressWorld Hub in Memphis,” said Raj Subramaniam, president and chief operatingofficer of FedEx Corp. “Our additional investment will accelerate thismodernization project, ensuring that we continue to provide outstanding serviceto our customers around the world and the best workplace for the thousands ofFedEx team members who make our Memphis World Hub operations possible every dayand night.”

Paired with Tennessee’s low unemployment rate andincreasingly competitive job market, modernization of the FedEx Hub in Memphiswill attract and retain team members to fill a variety of positions.

“FedEx is one of Tennessee’s greatest success stories, andthis additional investment reinforces FedEx’s commitment to our state and theworkforce in West Tennessee,” said Bob Rolfe, commissioner of the TennesseeDepartment of Economic and Community Development. “We’ve created a businessclimate where companies can invest, grow and create quality jobs for Tennesseeresidents. I would like to thank FedEx for this investment and its continuedpartnership.”