New Global Report Demonstrates FedEx Economic Impact
October 24 2022 - 10:00AM
The company’s supply chain saw ripple effects
around the world, with 360,000 direct suppliers supporting 16.5
FedEx Corp. (NYSE: FDX) today released the findings from its
2022 report that analyzed the company’s impact on the global
economy with key regional and market-specific analyses from around
the world at the conclusion of its 2022 fiscal year (FY 2022). The
report, produced in consultation with Dun & Bradstreet (NYSE:
DNB), a leading global provider of business decisioning data and
analytics, for the first time analyzed the impact FedEx has on
economies around the world. Over the past 49 years, FedEx has
expanded its services to more than 220 countries and territories
and invested in a global network enabling businesses of all sizes
to access and grow the global economy.
The report found that FedEx played an integral role in helping
businesses recover from the pandemic while overcoming strained
supply chains and economic challenges. With nearly 550,000
employees worldwide, FedEx moved an average of 16 million shipments
each day through its 5,000 facilities in FY 2022. The company’s
network optimization and investments improved efficiency and
capacity for FedEx customers.
“All around the world, FedEx helped individuals, businesses, and
communities emerge from the pandemic by moving goods and providing
services that connect humankind and power the global economy,” said
Raj Subramaniam, President and CEO, FedEx Corporation. “The report
illustrates the ongoing and important work we do every day,
including supporting small- and medium-sized businesses which are
the backbone of our local communities. We call this, the ‘FedEx
Measuring the FedEx Effect:
The shipping and logistics company plays a role in fueling
innovation, creating, and supporting local jobs, as well as helping
lift individuals and their communities regionally and in major
markets around the world.
- FedEx worked with 360,000 suppliers globally who employed more
than 16.5 million individuals. These businesses, many of which are
small businesses, created significant economic activity within
their local or regional markets and had a combined annual revenue
of $700 billion.
- FedEx global economic activity supported 193,000 additional
jobs beyond the FedEx worldwide employee base in FY 2022, which is
20,000 more jobs than FedEx indirectly supported in FY 2021.
- Small businesses made up 88% of the FedEx supply chain, and
more than half of the FedEx supply chain spend in each region went
to small businesses—which collectively supported roughly 810,000
small business jobs around the world.
- In FY 2022, FedEx invested $6.8 billion—a 15% increase over FY
2021—in facility improvements, network optimization and
infrastructure improvements, which correlated to direct economic
growth in the respective markets.
The company’s presence in the United States spans from
California to New York, Alaska to Florida with delivery services to
every U.S. ZIP code and has a significant impact on the U.S.
economy and jobs. In FY 2022, FedEx employed over 412,000 U.S. team
members and contributed roughly 12% of the total output of the U.S.
Transportation and Logistics sectors.
FedEx fleet and facility modernizations over the last year
improved productivity and delivered network efficiencies that
provided customers with better service. This business activity led
to $8.5 billion worth of indirect economic growth in the U.S.
economy and supported nearly 50,000 additional jobs beyond its
employment base. For more information on FedEx’s state and local
market impacts, view the full report here.
In April 2022, FedEx was named one of the 100 Best Companies to
Work For by Great Place to Work® and Fortune magazine—the 15th year
that FedEx has been included on this prestigious list.
“Over decades we’ve built the infrastructure – both physical and
digital – to meet the needs of our customers and deliver to every
community in the U.S.,” said Brie Carere, Executive Vice President
and Chief Customer Officer, FedEx Corp. “As the country emerged
from the pandemic, our network of facilities and team members
provided customers with excellent service and supported economic
growth and recovery.”
The report shows how FedEx contributes to the communities where
its team members live and work through charitable contributions and
direct efforts to deliver a more sustainable future. In FY 2022,
FedEx donated over $86 million to charities and local non-profits.
The company also served as a critical conduit for food and aid
deliveries and donations to Ukraine and Shanghai, among others. It
also shows how the company is committed to connecting the world
responsibly, through its stated goal of carbon-neutral operations
by 2040 and pursuit of investments in renewable energy to power its
Read the full FedEx Economic Impact Report and explore the FedEx
Effect in communities and regions around the world at
FedEx Corp. (NYSE: FDX) provides customers and businesses
worldwide with a broad portfolio of transportation, e-commerce and
business services. With annual revenue of $95 billion, the company
offers integrated business solutions through operating companies
competing collectively, operating collaboratively and innovating
digitally under the respected FedEx brand. Consistently ranked
among the world's most admired and trusted employers, FedEx
inspires its nearly 550,000 employees to remain focused on safety,
the highest ethical and professional standards and the needs of
their customers and communities. FedEx is committed to connecting
people and possibilities around the world responsibly and
resourcefully, with a goal to achieve carbon-neutral operations by
2040. To learn more, please visit fedex.com/about.
version on businesswire.com: https://www.businesswire.com/news/home/20221024005558/en/
Isabel Rollison FedEx Media Relations 901-434-8100
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