Memphis Takes Logistics Crown, NYC Tops In Fintech

Memphis, TN tops the list of Logistics Leaders, New York City leads the new Fintech ranking in Business Facilities' 2021 Metro Rankings Report.

Memphis, TN stands atop the leaderboard of Logistics Leaders in Business Facilities’ 17th Annual Rankings Report. New York City is the topped ranked metro in the magazine’s new Fintech ranking.

Memphis was the top-ranked logistics hub in BF’s global and metro Logistics Leaders category in the Rankings Report.

Memphis 2021 Metro Rankings ReportMemphis International Airport (MEM), home to the global FedEx hub, is now the busiest cargo airport in the world, mainly due to FedEx Express’ surge in shipment volume in 2020. MEM handled 4.6 million metric tons of cargo, according to Airports Council International’s annual tally. MEM overtook Hong Kong International Airport (HKG), now second.

“The logistics supremacy in Memphis isn’t limited to air cargo,” said BF Editor in Chief Jack Rogers. “Memphis is one of only four U.S. cities to be served by five Class I railroads. If you prefer to ship by water, they’ve also got a significant aquatic highway known as the Mississippi River.”

BF’s Logistics Leaders ranking measures all forms of transportation logistics, including shipping by air, rail, water and highway. New Orleans, a perennial leader in this category for several years, is ranked second, followed by Louisville, KY; Los Angeles, CA and Savannah, GA, respectively.

Filling out the top five behind New York City in BF’s new Fintech metro ranking are San Francisco, Toronto, Atlanta and Boston, respectively.

“FinTech is a red-hot growth sector that is making banking safer and faster using everything from biometrics and blockchain to artificial intelligence,” Rogers said. “Fintech applications and startups are expanding exponentially globally. These five metros are leading the way in North America.”

Business Facilities is a national publication that has been the leading location source for corporate site selectors and economic development professionals for more than 50 years. Business FacilitiesLiveXchange event will take place Oct. 26-28 at the Westin La Paloma Resort & Spa in Tucson, Arizona.

Click here to read the full 17th Annual Rankings Report including all State, Metro and Global rankings.