FedEx Corp. (NYSE: FDX) released findings in late September from a recent report analyzing the corporation’s impact on local economies in the United States.
The report, produced in consultation with global analytics and decisioning data leader Dun & Bradstreet (NYSE: DNB), shows that FedEx’s significant contributions to the economy stem from its investment in facilities and shipping infrastructure.
The economic impacts can be seen directly in counties where its operations take place, and indirectly in adjacent regions.
“From Fiscal Year 2019 through Fiscal Year 2021, the company donated more than $160 million in direct charitable contributions as well as support for communities and non-profit organizations through other avenues,” according to a recent press release.
A couple of these local economies can be found in California, including Ontario/Rialto and Oakland.
FedEx expanded its investment in San Bernardino County, which had the largest shipment volume growth—increasing by 52.9 percent—between 2019 and 2020, and its overall county GDP being 13%.
The corporation opened a new Ontario International Airport in November 2020 that automatically sorts up to 12,000 packages hourly and employed more than 490 members. Additionally, FedEx Ground plans to invest in the region, with more than $90 million allocated to capital facility investment.
The Oakland location, strategically placed and one of the busiest ports on the West Coast, supports shipments across not only the state but the West Coast. It also connects local businesses with domestic and international markets.
“While the numbers are compelling, behind the statistics are real benefits and expanded opportunities in the daily lives of FedEx team members and their families, entrepreneurs, small businesses, and communities from coast to coast,” said Raj Subramaniam, President and COO, FedEx Corporation.
Even in the midst of the COVID-19 pandemic, FedEx sustained economic and social functionality nationwide. The corporation has employed more than 375,000 U.S. team members across the United States, representing a 9.4 percent employment increase in 2020, and supports an additional 400,000 jobs via its supply chain.
The full economic impact report can be viewed here.
