FedEx Corp. has announced it will make 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 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,” said Tennessee Governor Bill Lee. “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.”
Hub modernization efforts are expected to be completed by 2025 with significant job creation along the way. The Memphis Hub is currently home to 11,000 employees.
“Thank you to Governor Lee and the State of Tennessee for their support of FedEx and this transformational project at the FedEx Express World Hub in Memphis,” said Raj Subramaniam, president and chief operating officer of FedEx Corp. “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.”
Paired with Tennessee’s low unemployment rate and increasingly competitive job market, modernization of the company’s Memphis hub 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,” said Bob Rolfe, commissioner of the Tennessee Department of Economic and Community Development. “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.”
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