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Federal Express Still Waiting for
Final Approvals for Mid Atlantic Hub
When Federal Express announced in 1998 that it would build a 1 million sq.-ft (92,900 sq.-m.) sorting facility at the Piedmont Triad International Airport near Greensboro, the company had hopes that area residents would welcome the project with open arms. What has ensued is a firestorm of controversy.
FedEx needed a $200 million runway to be built at the Piedmont Triad Airport with funding from the Federal Aviation Administration. An Environmental Impact Study (EIS) was initiated and affected area residents entered the fray. Opponents claim noise and congestion will harm residential areas. The initial report on the EIS looks positive, and local officials believe those concerns can be put to rest. Officials anticipate final approvals shortly.
"Our position is there is a comprehensive Environmental Impact Statement being prepared," says Andy Burke, president of Forward Guilford, the economic development arm of the Greensboro Chamber. "We think that it will answer the types of questions they're raising."
The local impact of the FedEx hub, expected to be operational in 2005, is expected to exceed $7.5 billion by 2019. FedEx anticipates generating 16,000 jobs in more than 10 years. This is a big carrot. Unemployment in the Greensboro-Winston Salem-HighPoint area reached 3.9 percent in February, marking a continued increase since last September's rate of 2.7 percent. The area has traditionally been home to textile manufacturing. Many of those firms are closing with jobs going overseas.
The domino effect of the FedEx hub is being felt in the Piedmont region, and the facility is projected to spur further development in the airport area. "The airport submarket and NC 68 corridor will continue to be very strong," says Don Kirkman, president of the Piedmont Triad Partnership. Already land values have escalated around the Piedmont Triad International Airport to roughly double their normal appreciation last year.
Highwoods Properties is developing 1.1 million sq. ft (102,190 sq. m.) of industrial space in the airport area. Liberty Hardware announced last summer a $22 million headquarters/manufacturing facility in Winston-Salem. The project is under construction and officials expect to employ 300 workers.
Greensboro is the future home of United Healthcare/Uniprise's headquarters offices. The $21.7 facility is expected to employ more than 800.
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