FedEx has announced it will be investing an additional $450 million into its Memphis hub, exceeding $1.5 billion for the total amount it said it would invest over the next six years.
The money will be used to construct a new sorting facility, state-of-the-art systems and a bulk truckload building.
FedEx President and COO Raj Subramaniam said: “Our additional investment will accelerate this modernisation 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.”
“FedEx continues to be both a global leader and a Tennessee icon,” Gov. Bill Lee said. “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.”
The project is expected to be completed by 2025.