FedEx to invest additional $450 million to modernize hub

Friday, August 2, 2019, Vol. 43, No. 31

MEMPHIS (AP) — FedEx Corp. is investing an additional $450 million to improve operations at its busy hub in Memphis, Tennessee.

The shipping giant's announcement Friday at Memphis International Airport increases its investment toward modernizing its Memphis hub to about $1.5 billion.

The company announced in March 2018 a $1.1 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 modernization is expected to be completed by 2025. The Memphis hub currently has 11,000 employees, and more jobs are expected to be added.

Tennessee Gov. Bill Lee says FedEx's investment shows Tennessee is "open for business."