Company: Federal Express Parent Company: FedEx Subsidy Source: local Location: Texas City: Fort Worth County: Tarrant Project Description: air cargo hub Year: 1996 Major Industry of Parent: freight and logistics Specific Industry of Parent: package delivery Subsidy Value: $250,000,000 Program Name: multiple Awarding Agency: Alliance Airport Authority Type of Subsidy:
Number of Jobs or Training Slots: 1,016 Capital Investment: $300,000,000 Source of Data: The subsidy value and jobs projection came from: Jack Z. Smith, "Council expected to approve bond sale for FedEx hub," Fort Worth Star Telegram, March 20, 1996. Notes: The city and the airport arranged for the issuance of $250 million in tax-exempt private activity bonds to cover Fedex's construction costs. The company had responsibility for servicing the debt but was allowed to do so by diverting lease payments on the facility, which was incorporated into the city-owned airport, making it exempt from real property taxes. The value of that subsidy was not reported. Overlaps with main Subsidy Tracker data: none. Source Notes: If an online information source is not working, check the Tracker inventory page for an updated link.