FedEx investing $1 billion to modernize Tennessee hub
MEMPHIS, Tenn. — FedEx said Wednesday that it is investing more than $1 billion to modernize and expand its Tennessee hub, in a move the shipping giant says will improve its efficiency and reliability as it delivers packages throughout the world.
FedEx Corp. Chairman and CEO Fred W. Smith and Tennessee Gov. Bill Haslam made the announcement while standing in front of a FedEx Express jet on the tarmac of a private terminal at Memphis International Airport.
The project will include construction of a new large sorting facility, installation of new sorting systems and construction of a bulk truck loading building. Also, a new area will be built to improve handling of oversize shipments that have increased with the growth of internet commerce, the company said.
Construction is expected to begin in 2019 and be completed by 2025.