FedEx filing hints at plan to build USD 87 M hub in Toledo area
In another indication that it plans to remain in the Toledo metropolitan area, package shipper FedEx Ground yesterday applied for tax abatement to build a new regional hub in Perrysburg Township.
The company would move from its present location in South Toledo to a planned USD 87 million facility on a parcel east of the Buck Road and I-75 interchange.
The company had been considering other locations, including one in Monroe County, Michigan.
Under its application submitted yesterday to Wood County, FedEx Ground is asking for a 100 percent tax abatement on improvements to the property in Perrysburg Township.
FedEx spokesman David Westrick in Pittsburgh portrayed the application as a paperwork requirement of Wood County, and not a commitment.
Because FedEx hasn’t publicly stated its intentions, public officials were hesitant yesterday to speak for the company.
A spokesman for Toledo Mayor Carty Finkbeiner said the move would be good for FedEx, Toledo, and the township because of a proposed joint economic development agreement that would allow for water and sewer services and tax-sharing.
Currently, FedEx’s local terminal is on Reynolds Road near Angola Road. It has about 400 employees, according to its application.
FedEx’s application says it plans to spend USD 48 million on new construction and USD 39 million on equipment as well as USD 73,000 on furniture and fixtures.
The application does not state how much FedEx will pay for the real estate, currently owned by Willis Day Warehousing Co., or whether it will seek real estate tax abatement.
Work on the project would begin in November and end in June, 2009.
The application states that FedEx would create 31 new full-time and 91 new part-time jobs over the first three years, with total new wages of USD 2.9 million.
The existing annual payroll is 152 full-time employees and 259 part-time employees, paid a total of USD 9.2 million a year.
Nationally, FedEx Ground is undergoing a USD 1.8 billion expansion.
FedEx Ground’s income tax is said to yield about USD 200,000 a year for Toledo.
