MEMPHIS, Tenn. (WMC) - We’re taking a look at some of this week’s biggest business headlines impacting the Mid-South with Jacob Steimer, reporter for the Memphis Business Journal.
This week’s cover story highlights FedEx. MBJ is taking a look at what’s been spent on construction for the $1.5 billion hub plan, and who’s getting paid.
UPS is expanding its operation right in the backyard of shipping rival FedEx. And Memphis leaders approved a big tax break to make it happen to the tune of a $38 million PILOT for UPS. UPS was granted the tax break in exchange for building a $216 million expansion. The question at hand is why is Memphis giving a tax break to FedEx’s largest competitor?
MBJ’s exclusive this week involves Boyle Investment Company, which is in advanced negotiations to buy four East Memphis office buildings from Highwoods Properties.