The Indianapolis hub opened more than 25 years ago and employs thousands of Hoosiers.
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.
By Roger Engelau Owner, Inspire Results Business Coaching
How many years have you put work-life balance on your list of New Year's resolutions? Every day, I see so many business owners struggle with the same issues: working 60+ hours each week, not being able to remember the last time they had a vacation, and simply feeling like it's up to them to do it all in their business. After working with countless business owners to identify and overcome their challenges, I've realized the most common root cause is a lack of strategic planning.
The first phase of a major redevelopment project in downtown Fort Wayne will receive state assistance. The Indiana Economic Development Corp. has awarded a conditional tax credit for Electric Works, a mixed-use innovation district located at the former GE campus. The incentive is part of the IEDC's Industrial Recovery Tax Credit program, used to boost investment in the redevelopment of former industrial facilities. Developers are projecting an initial investment of more than...
Texas-based Keller Williams Realty Inc. has announced plans to open its first office in downtown Fort Wayne. Financial details of the real estate company's investment in the location were not immediately disclosed, however the expansion will bring at least 35 jobs to the Allen County city.
Nestlé USA has unveiled plans to invest nearly $80 million into its Anderson operations. Our partners at The Herald Bulletin report the company will purchase new equipment for the facility and add 30 jobs.
City and development officials will break ground Friday on a $15 million sports complex in Noblesville. Finch Creek Park Fieldhouse will include five courts with hard surfaces, two turf-surfaced fields and 11 batting and pitching cages. The project, which was first unveiled a year ago, is a public-private partnership between Klipsch-Card Athletic Facilities LLC and the city. The company is also owner/operator of the fieldhouse at Grand Park in Westfield.
A former longtime Indianapolis television anchor and reporter has been hired by The Kroger Co. (NYSE: KR). Eric Halvorson, who left WISH-TV last year after 33 years, will serve as public affairs manager and media spokesman for the company's Central Division. He succeeds John Elliott, who will become the chief executive officer of Gleaners Food Bank in Indianapolis later this year.