Tennessee panel OKs $10M for FedEx project in Memphis
NASHVILLE, Tenn. — A Tennessee panel has approved a $10 million economic development grant to establish the FedEx Logistics headquarters in downtown Memphis.
FedEx Logistics, currently located in East Memphis, has already been approved for local incentives of more than $30 million in PILOTs and grants to move downtown and increase its workforce.
State economic development commissioner Bob Rolfe said FedEx Logistics has committed to invest $44 million and create 689 jobs earning $56 hourly on average. The $10 million state grant will help retrofit its building, the former Gibson Guitar factory.
FedEx Logistics was one of five economic development deals that received the State Funding Board’s approval Friday.
Other incentives approved Friday include $1.2 million for trucking company JNJ Express LLC in Memphis. The state said JNJ will create 610 new jobs over the next five years. The family-owned company currently employs 290 in the Memphis area. The company’s new campus will be at 5000 American Way, in the old Delta Square shopping center.