Posted August 08, 2019
FedEx is investing an additional $450 million into the FedEx Express World Hub in Memphis, company officials announced Friday.
The hub based at the Memphis International Airport is in the midst of a modernization plan announced in 2018 to pivot the hub more toward new technologies and automation. With the additional investment announced Friday, that plan will total $1.5 billion.
FedEx said the additional investment is because of “growing customer demand" in a news release. The project is expected to wrap up by 2025 “with significant job creation along the way,” according to the Tennessee Department of Economic & Community Development.
“As we announced in 2018, the hub project represents the next chapter in a long-term commitment in investing in the city of Memphis and the state of Tennessee,” said FedEx Express CEO Don Colleran.
The project calls for the construction of a large new sorting facility, “state-of-the-art” sort systems, construction of a bulk truckload building and a new area to better handle oversized shipments in-demand due to the e-commerce boom, Colleran said.
FedEx employs around 11,000 people at the hub, who support an operation that handles hundreds of thousands of items every hour.