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updated: 6/5/2012 9:47:45 AM
UPS Plans $10 Million Modernization Project
United Parcel Service Inc. (NYSE: UPS) wants to invest $10 million to modernize a regional hub in Indianapolis. The global shipping and logistics company is seeking tax abatement on the project, which it says would retain 750 Indiana jobs. The Metropolitan Development Commission is expected to consider the preliminary request during a Wednesday meeting.
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The company says without the modernization it would have to consider other locations for the operation, or move packages through a "more cost effective hub."
UPS says the Indianapolis location is landlocked, so expansion is not an option.
The company adds the cost per-package handled at the hub is currently greater than similar operations in other states.
Officials hope the modernization project will help lower that cost.
Source: Indianapolis Department of Metropolitan Development
