FedEx to Invest $385M in Central Indiana

Posted: Updated:
The Indianapolis hub opened more than 25 years ago and employs thousands of Hoosiers. The Indianapolis hub opened more than 25 years ago and employs thousands of Hoosiers.
INDIANAPOLIS -

FedEx Corp. (NYSE: FDX) is planning to invest $385 million into new equipment at its hub at Indianapolis International Airport. The move, the company says, would result in the creation of 125 jobs and 450 part-time jobs by 2026. It would also help retain more than 800 full-time positions and nearly 3,000 part-timers.

FedEx is requesting a tax abatement package from the Metropolitan Developments Commission totaling some $29.2 million over 10 years. In that time, the MDC estimates FedEx would still be paying more than $19.6 million in property taxes and an estimated $4.2 million annually on the planned investment.

The full-time jobs created by the proposal are expected to pay $14.66 per hour, while the part-time jobs that come with it could pay $13.23 per hour.

The FedEx Indianapolis hub is the global shipping company's second largest after its Memphis facilities where it is headquartered. Just last month, FedEx announced plans to build a $259 million center in Greenwood that would lead to as many as 455 -- mostly part-time -- jobs. Monday's tax abatement request filed with the city dwarfs that of a $170 million package handling expansion that is currently in the works. Those 200-plus full and part-time jobs detailed last year are expected to be brought on by 2020.

The latest tax abatement request is expected to go Wednesday before the MDC.

  • Perspectives

    • World Refugee Day Shines Light on Untapped Pool of Talented Workers

      From Fortune 500 companies to local small businesses, a similar theme rings true. In this strong economy where unemployment is low and growth is high, companies are competing for top talent. In Indianapolis - according to the U.S. Bureau of Labor and Statistics - unemployment is just 2.8 percent, and investment and job growth are on the rise. This is great news for Indianapolis-area residents looking for work or opportunities to advance their careers, but for businesses and...
    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • Lilly Exec Named BioCrossroads CEO

      After a national search, BioCrossroads has announced Patty Martin will become the life science initiative's next president and chief executive officer. Martin, who most recently served as chief operating officer for Lilly Diabetes, will begin her new role Monday. She will become just the third CEO in the organization's 17-year history, and succeeds David Johnson, who in December announced plans to step down from the role to serve as president and CEO of the...

    • (file photo courtesy of Radial)

      Radial Opens Fulfillment Center in Brownsburg

      Pennsylvania-based Radial Inc. says its new fulfillment center in Brownsburg is now open. The e-commerce technology and operations company says the nearly 700,000-square-foot facility is the largest in its network and will have the capacity to house about 2,000 employees.

    • Holcomb will chair the 2019 conference, set for November 7 in Indianapolis.

      Janet Holcomb to Chair Conference For Women

      Indiana First Lady Janet Holcomb will serve as chair for this year's Indiana Conference for Women. Nearly 2,000 people are expected to attend the ninth annual conference, in Indianapolis in November. Holcomb's career includes a stint as vice president of her family's bolt and fastener manufacturing business, R&R Engineering. She has also led fundraising efforts for political campaigns as well as nonprofit organizations focusing in areas including animal welfare, arts and...

    • (rendering courtesy of Jones Development Co.)

      New Business Park Planned for Whiteland

      Missouri-based Jones Development Co. has begun construction on a new business park in Johnson County. The 2.4 million-square-foot Whiteland Exchange will be located on 167 acres near I-65 in Whiteland.  Financial terms of the developer's investment in the project were not disclosed. The business park is slated to include modern industrial buildings for logistics, advanced manufacturing and related uses. Work is underway on the first two speculative buildings, which total nearly...

    • Franciscan Health Details Data Breach

      Mishawaka-based Franciscan Health is providing details of a data breach. The health system says an internal investigation found one of its employees accessed the protected health information of about 2,200 patients "without a business reason."  Franciscan says the vast majority of the affected medical records was limited to demographic information such as name, address, email address, date of birth, phone number, gender, race/ethnicity, the last four digits of...