The City-County Council in Indianapolis has approved tax abatement for a planned $170 million expansion of FedEx Corp.’s (NYSE: FDX) hub at Indianapolis International Airport. The company says the expansion could create more than 200 full and part-time jobs. The proposal heads to the Metropolitan Development Commission for final approval next Wednesday. The hub is the global shipping company’s second-largest.
The full scope of hiring is expected to be complete by 2020.
The eight-year, $10 million abatement previously received unanimous approval from the council’s Metropolitan and Economic Development Committee and on Monday night, was approved by a 23-0 vote.
Councilman Jared Evans (D-22), whose district includes the airport, said in a statement:
This $170 million investment assures this hub will remain the second largest in the world for years to come. This investment creates many well-paying jobs with high level benefits, such as tuition reimbursement and full health care for part-time and full-time employees. More than 70 percent of Indianapolis’ FedEx employees are Marion County residents. This is a great partnership for our city and I am looking forward to working closely with them and bringing further benefit to Indianapolis residents – especially those on the far westside.
The company is looking to install new package-handling equipment to boost efficiency and volume. In filings with the city, FedEx said the project would help retain 728 full-time jobs and about 3,200 part-time positions.