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MEMPHIS, Tenn. — FedEx Logistics will be moving their corporate headquarters into the former Gibson guitar factory in Downtown Memphis.

The FedEx subsidiary is expected to invest approximately $44 million and bring more than 680 jobs over the next three years.

“With FedEx Logistics creating more than 680 jobs, and investing more than $44 million in Shelby County, they are once again showing that Tennessee is a great place to do business,” Tennessee Governor Bill Lee said. “FedEx and its subsidiaries have been a true Tennessee success story, and we as a state are proud to see this company continue to grow and call Tennessee home.”

Richard Smith, CEO of FedEx Logistics,  said city council member Berlin Boyd initially planted the idea of logistics moving downtown in his head at a Grizzlies game in 2017. FedEx was looking at multiple locations, and Gibson had not yet announced it was leaving its Second Street location.

 “As a resident of Memphis I’m proud to see my hometown flourish as company after company chooses to double down and re-invest in this community,” Smith said. “That’s what makes this a community my kids will want to live after college.”

However, Smith said they did have second thoughts about moving into the building after the murder of former Chamber president Phil Trenary on Front Street last year. They delayed the decision.

“We had to take a step back, process that, make sure our employees felt safe down here, make sure we felt safe with the Mayor and Director Rallings’ plans for improving public safety downtown,” Smith said.

The company will get an incentives package associated with the move but it hasn’t been finalized yet. Lee promised it would include clawback guarantees, unlike the Electrolux deal.

Video: Lee announces FedEx Logistics move

According to to the governor’s office, FedEx Logistics — which has been located in Memphis since its creation in 2000 — plans to consolidate its operations into the old Gibson Guitar Factory located at the corner of Lt. George W Lee Avenue and South B.B. King Boulevard.

The Gibson guitar factory opened in 2000, but last year the Nashville-based company announced it was restructuring and moving out of the location.

Of the roughly 700 new FedEx jobs coming downtown to this location, about 350 are already located in East Memphis. The rest are either new jobs or jobs moving from other FedEx locations in other U.S. cities including Tampa, Buffalo, Pittsburgh and Akron.

“The importance of FedEx to Memphis cannot be overstated,” Memphis Mayor Jim Strickland said. “With this move, we’re bringing life back to the Gibson Guitar Factory with one of the strongest brands in the world and continuing to bring more jobs and people to our downtown. I couldn’t be happier with this announcement and look forward to working with Richard and his team to continue moving our city forward.”

“It is great to see FedEx continuing to invest in Memphis, especially in our urban core. FedEx Logistics’ headquarters will add a financial boost and vibrant new energy in a key downtown location,” Shelby County Mayor Lee Harris said.

FedEx Logistics has more than 22,000 employees worldwide.

Its parent company, FedEx Corporation, employees 30,000 people in the Memphis area.