FedEx to invest additional USD450M to modernise hub

MEMPHIS, Tennessee (AP) – FedEx Corp. is investing an additional USD450 million to improve operations at its busy hub in Memphis, Tennessee.

The shipping giant’s announcement on Friday at Memphis International Airport increases its investment toward modernising its Memphis hub to about USD1.5 billion.

The company announced in March 2018 a USD1.1 billion plan to build a sorting facility, install new systems and construct a new bulk truckload building to support internet commerce needs. FedEx has said the investment will help improve its efficiency and reliability as it delivers packages throughout the world.

Officials say the modernisation is expected to be completed by 2025. The Memphis hub currently has 11,000 employees, and more jobs are expected to be added.

Tennessee Governor Bill Lee said FedEx’s investment shows that Tennessee is “open for business.”