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Indianapolis: After crediting tax cuts for new investment, FedEx cancels plan for Greenwood hub [View all]
Hmmmm...
Two months after crediting Republican tax cuts with fueling new investment in Indianapolis, FedEx Corp. has canceled a plan to build a large new project in Greenwood.
FedEx revealed in an unusual Saturday night statement that it will not be proceeding with a distribution center that the company previously said would employ 455 people. FedEx cited "projected operational needs," but did not elaborate on its reasons for scrapping the project.
The Memphis, Tenn.-based company was planning to build a $259 million, 608,000-square-foot distribution center on 237 acres along East Worthsville Road, east of I-65. Company officials in October described the project as a hub spinoff of FedEx's Northern Kentucky Hub.
A new FedEx hub would have been in line with recent investments from other companies, including United Parcel Service Inc. and Amazon.com Inc., to beef up their facilities and operations in Central Indiana. The Indianapolis area has experienced rapid growth in warehousing, because of its proximity to other major cities and the growth of e-commerce.
FedEx revealed in an unusual Saturday night statement that it will not be proceeding with a distribution center that the company previously said would employ 455 people. FedEx cited "projected operational needs," but did not elaborate on its reasons for scrapping the project.
The Memphis, Tenn.-based company was planning to build a $259 million, 608,000-square-foot distribution center on 237 acres along East Worthsville Road, east of I-65. Company officials in October described the project as a hub spinoff of FedEx's Northern Kentucky Hub.
A new FedEx hub would have been in line with recent investments from other companies, including United Parcel Service Inc. and Amazon.com Inc., to beef up their facilities and operations in Central Indiana. The Indianapolis area has experienced rapid growth in warehousing, because of its proximity to other major cities and the growth of e-commerce.
https://www.indystar.com/story/money/2018/03/24/after-crediting-tax-cuts-new-investment-fedex-cancels-plan-259-million-greenwood-hub-without-explana/456382002/
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