FedEx to Invest $385M in Central Indiana
The Indianapolis hub opened more than 25 years ago and employs thousands of Hoosiers.
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowFedEx 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.