FedEx Targets $1.5B For Indy

Posted: Updated:
INDIANAPOLIS -

Memphis-based FedEx Corp. (NYSE: FDX) says it plans to pump $1.5 billion into its Indianapolis hub in the coming years. The global shipping provider, which has detailed multiple large investments in Indianapolis in recent years, credits the U.S. Tax Cuts and Jobs Act for paving the way for the latest announcement. A company spokeswoman tells Inside INdiana Business, FedEx is not releasing any additional details at this time.

In a news release, the logistics giant says it plans to "significantly expand the FedEx Express Indianapolis hub over the next seven years." The Indianapolis investment is part of an overall $3.2 billion commitment it says will use to fund pay and benefits increases. FedEx also says its Memphis SuperHub will be "modernized and enlarged" and it will detail those measures in the spring.

In September 2016, the city of Indianapolis approved tax incentives for a $170 million expansion at the Indianapolis hub. In October, FedEx also detailed plans for a small-package distribution center in Greenwood that represents a $259 million investment. Additionally, a $385 million proposal to expand at the Indianapolis International Airport site was presented in December to the city.

  • Perspectives

    • Truck Driver Supply Impacting Cargo Hauling Demand

      The U.S. unemployment rate has moved down to 3.9 percent, which is its lowest level since December 2000, according to the U.S. Bureau of Labor Statistics. Great news! Maybe not. There are business sectors that need employees due to constraints in the labor market - namely truck drivers. The level of employment in the truck transportation industry is essentially unchanged since mid-2015, according to the bureau. And the impact is being felt.

    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

    • Mark Sandy became Ball State's director of intercollegiate athletics in 2015.

      Ball State to Introduce Next AD

      Ball State University Monday will name a new director of intercollegiate athletics. Mark Sandy, who has served in the position for more than three years, announced his retirement in January. During Sandy's tenure, eight teams won Mid-American Conference league championships or division titles. Three new facilities projects have been completed during his time in Muncie...

    • Holcomb Announces Board Appointments

      Governor Eric Holcomb has made several appointments and reappointments to various state boards, commissions and councils. The governor made one new appointment to the Business Law Survey Commission: Michael Deam (Fort Wayne), Managing Partner of Rothberg Logan Warsco LLP, will join the commission.

    • Triple XXX Root Beer Appears in Prime Time

      A soft drink that carries the name of an iconic West Lafayette restaurant has been featured on a national television series. In a message on the Triple XXX Family Restaurant's Instagram page, co-owner Carrie Ehresman said the recent appearance of Triple XXX Root Beer on NBC's "Chicago Fire" was not product placement. She said the show's producers reached out through the restaurant's website and "we weren't sure we'd make the final cut until it aired!"

    • Wade "Pete" Felix

      Dear Wage And Hour

      Dear Wage and Hour…doesn’t have quite the ring of Dear Abby. It also doesn’t have the general interest. For industry associations, HR professionals and lawyers, there has been a nine-year hiatus in what was, and is again, the U.S. Department of Labor’s practice of issuing opinion letters interpreting its own statutes and regulations. This month, the DOL issued three letters.

    • Indiana Sports Corp. Makes Key Appointments

      The Indiana Sports Corp. has made several changes as it continues to prepare for a series of high-profile sporting events in Indianapolis. Melissa Caito, former vice president of corporate and executive affairs at ISC, will serve as chief administrative officer for ICF. The ISC has named Samantha Cross (pictured) chief operations officer. Melissa Thompson (pictured), a former project manager with Indianapolis-based Hathaway Strategies, will serve as chief community officer.