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1、Global Economic Impact Report Measuring the FedEx Effect|October 20232023 Economic Impact Report|FedEx2On April 17,1973,the first FedEx planes left Memphis and delivered 186 packages to 25 cities across the United States(U.S.).In the 50 years since that day,FedEx has helped shape the global economy

2、by connecting communities and transforming the way businesses exchange goods,services,and ideas.Today,FedEx has the most extensive transportation network in the world,providing service to more than 220 countries and territories,employing more than 500,000 people,and delivering millions of packages a

3、 day.That growth,in turn,has streamlined international trade and supported economic development in the regions that FedEx serves.FedEx shipping and logistics services are an integral part of the global supply chain and help businesses of all sizes reach more customers.The companys revenues,capital i

4、nvestments,and spending with suppliers boost local gross domestic product(GDP)and support local job creation.We call these contributions the FedEx Effect.This report quantifies the FedEx Effect by demonstrating the companys impact on the overall global and U.S.economies,and contributions to major fi

5、nancial and commercial centers around the world.FedEx transportation hubs and offices help drive economic activity in cities across the globe and serve as critical transit points to help FedEx connect the vast majority of the worlds GDP.As a result,the startup that shipped just 186 packages on that

6、April night 50 years ago now delivers more than$80 billion in direct economic impact to the global economy.Beyond this direct impact,FedEx indirectly creates an estimated$35 billion in additional net economic output1 in the global economy.As the FedEx footprint has expanded across the world,so has o

7、ur network of suppliers for goods and services.These businesses provide their own economic contributions in the form of wages,taxes,capital investments,and other activities.In fiscal year(FY)2023,2 FedEx contracted with roughly 100,000 direct suppliers 90%of which are the small businesses that fuel

8、innovation,create jobs,and lift their local communities.Along with these business-related impacts,FedEx makes significant philanthropic contributions to the communities where our team members and customers live.The companys growth over the past five decades has strengthened our ability to make a dif

9、ference,culminating in the FedEx Cares 50 by 50 initiative that we launched in 2019.The goal was to positively impact 50 million people by our companys 50th year,which we achieved and exceeded early in 2023.The companys milestone birthday is not just an occasion to reflect on the past,however.FedEx

10、continues to look ahead for opportunities to transform our business and improve the services that help our global customer base succeed and grow.We are focused on becoming more efficient in the way we operate,which will not only deliver benefits to our customers,but to our environment as well.For ex

11、ample,were working toward our goal of achieving carbon neutral operations by 2040 through strategies such as fleet electrification and the use of renewable energy by our facilities.FedEx launched with the vision that a connected world is a better world.The positive economic impact detailed in this r

12、eport demonstrates the concrete ways that greater connection opens up new opportunities to improve peoples lives.Looking ahead,we believe that creating an even more connected and sustainable future will strengthen the FedEx Effect for team members,customers,suppliers,and communities around the world

13、.Raj SubramaniamPresident&CEOFedEx Corporation 50 Years of the FedEx Effect1 Net economic output is the difference between the value of total or gross output and the cost of inputs such as energy,raw materials,and services.Also known as value added.2 Fiscal year(FY)2023 is defined as June 1,2022-May

14、 31,2023.2023 Economic Impact Report|FedEx3The evolution of FedEx Global expansion,global impact:A 50-year journeyGlobal economic impactSpotlight:The United StatesA closer look at select markets in the U.S.Spotlight:The AmericasA closer look at select markets in the AmericasRegional Spotlight:Europe

15、A closer look at select markets in EuropeRegional Spotlight:AMEAA closer look at select markets in AMEASupporting the success of small businesses around the worldFedEx CaresDelivering a more sustainable future45222526303135Contents2023 Economic Impact Report|FedEx32023 Economic Impact Rep

16、ort|FedEx4FY 2023 was a time of transition for both the economy and company.Inflation,interest rates,and a slowdown of global trade led to a general weakening of the industrial economy.Additionally,consumer spending shifted to services versus goods,and there was an e-commerce reset coming out of the

17、 COVID-19 pandemic.In response,FedEx quickly implemented actions to align its cost base with underlying demand and help build the most flexible,efficient,and intelligent network.Evolution and reinvention have been a theme throughout the history of FedEx.Since launching operations in 1973,FedEx has p

18、assed through three distinct lifecycles that represent an expansion of the companys services and geographic reach.During its first phase in the 1970s and early 1980s,FedEx overnight shipping revolutionized the way U.S.customers connected.Later in the 1980s and through the 1990s,FedEx began an intern

19、ational expansion that helped customers reach new markets around the world.By the 2000s,FedEx entered its third phase when further international acquisitions and the integration of freight,logistics,and trade services helped transform global supply chains.This also enabled the explosive e-commerce g

20、rowth that has drastically changed consumer shopping behavior and how businesses operate.As a result of this expansion,FedEx connects more than 220 countries and territories with a range of transportation,logistics,and business services.FedEx shipping options,customs brokerage services,supply chain

21、management tools,and other services support businesses of all sizes that generate economic growth across the world creating a positive impact on the local communities where FedEx and its customers operate,as well as the economies of entire countries and geographic regions.This report quantifies the

22、companys economic impact using analysis from Dun&Bradstreet on FedEx contributions to the global economy and to its four main operational regions:The United States;the Americas(Canada and Latin America and the Caribbean);Europe;and AMEA(Asia Pacific,Middle East,and Africa).The sections that follow d

23、etail the impact that FedEx has on regional net economic output through the business services it provides,as well as the companys capital investments,employment,and spending with local suppliers.Each regional focus also includes a closer look at select markets,highlighting the positive role that Fed

24、Ex plays in areas where the company has a large presence.Other sections of the report focus on FedEx efforts to promote international trade,support small businesses,give back to local communities through charitable giving and volunteer efforts,and embrace sustainable business practices.These activit

25、ies and contributions along with the direct and indirect impact that FedEx has on local,country,and regional economies capture the holistic scope of the FedEx Effect.The evolution of FedExDomesticGrowth$90 Billion USD$40 Billion USD$10 Billion USD$1 Billion USDFlying TigersAcquisitionCaliberAcquisit

26、ionKinkosAcquisitionTNTAcquisitionInternationalGrowthDigitalGrowthMILESTONESREVENUESupply Chain&E-commerceGrowthFY 1989FY 1998FY 2004FY 2016FY 2023(FY 2022)(FY 2012)(FY 1996)(FY 1983)2023 Economic Impact Report|FedEx5Global expansion,global impact:A 50-year journeyThe FedEx Effect has spread around

27、the world as the company has progressed through its phases of growth and innovation.Here are key milestones in the companys history.1973 FedEx launches air delivery service from Memphis with a fleet of 14 aircraft.1977 The acquisition of seven Boeing 727s increases fleet cargo capacity.1981 Service

28、to Canada begins.1984 FedEx begins intercontinental service to Europe and Asia with the acquisition of Gelco Express International.1988 Cargo service to Japan begins with a regularly scheduled trans-Pacific flight.1989 The acquisition of the Flying Tiger Line,including routes to 21 countries in Euro

29、pe,Asia,and South America,makes FedEx the worlds largest full-service,all-cargo airline.1996 The Civil Aviation Administration of China(CAAC)grants FedEx approval to operate a U.S./China all-cargo route.1998 The acquisition of Caliber System Inc.,including small-package ground carrier Roadway Packag

30、e System,Inc.(RPS),leads to the creation of FedEx Ground and positions FedEx to address emerging e-commerce opportunities.1999 FedEx opens its express hub at Roissy-Charles De Gaulle airport the largest FedEx hub outside the U.S.and launches the EuroOne network.2005 FedEx launches two around-the-wor

31、ld flights(one eastbound,one westbound)to improve service to major markets.2007 Two acquisitions improve FedEx service in Europe:ANC in the U.K.and Flying-Cargo Hungary.2009 Operations begin at the new Asia-Pacific hub at Baiyun International Airport in Guangzhou,China.2012 FedEx opens the South Pac

32、ific Regional Hub in Singapore.2014 FedEx begins operations in North Pacific Hub in Osaka,Japan.2016 FedEx acquires TNT Express,one of the worlds largest express delivery companies,which expands service in Europe,the Middle East,Africa,Asia-Pacific,and the Americas.2019 FedEx acquires the Internatio

33、nal Express business of Flying Cargo Group in Israel.2023 FedEx celebrates 50 years in operation.2024 FedEx will consolidate its operating companiesinto one organization,creating efficiencies that will enhance the companys ability to meet the evolving needs of customers.This move will ultimately bui

34、ld a stronger,more profitable enterprise and further enable the company to continue making significant contributions to economies around the world.2023 Economic Impact Report|FedEx6FedEx plays a key role in facilitating the flow of goods,services,and information that drive the global economy.While F

35、edEx transportation,e-commerce,and business services connect a vast majority of the worlds gross domestic product(GDP),the company also contributes to economic growth through its investments in facilities,employee wages,and purchases with suppliers across the globe.Despite a challenging operating en

36、vironment in FY 2023,FedEx continued making substantial contributions to the worldwide economy.This section examines the direct and indirect impact of the companys business activities3 around the world in FY 2023.Dun&Bradstreet analyzed a range of contributions that FedEx makes to the global economy

37、,including revenues,wages,and capital expenditures,that directly affect GDP.Beyond these direct contributions,Dun&Bradstreet has also examined the indirect but substantial impact that FedEx operations have on local,country,and regional economies through its services,as well as its transactions with

38、other businesses many of which are small and locally owned.This activity generates additional jobs and revenues that multiply the impact that FedEx has across the world.To provide a worldwide impact estimate,Dun&Bradstreet analyzed major FedEx markets,as well as neighboring markets that dont house l

39、arge FedEx operations but still experience a spillover effect from business activity generated by the extensive reach of the FedEx network.Details on the companys direct and indirect impact on specific global regions,including closer looks at select markets in each region,can be found in later secti

40、ons of this report.Direct impactBecause of the size of its network and the range of services it provides,FedEx is a major contributor to worldwide economic output.The value of the companys contributions is especially notable in sectors related to the companys core services,such as transportation.In

41、FY 2023,direct contributions from FedEx accounted for approximately 1%4 of overall net economic output in the$8.8 trillion dollar Transportation,Storage,and Communications sector as defined by the United Nations Conference on Trade and Development(UNCTAD).Despite several economic pressures during FY

42、 2023,total worldwide net economic output grew to an estimated$103 trillion for the fiscal year,up from$92 trillion the previous year.Direct contributions from FedEx represented 0.09%5 of that total a considerable amount for a single company.These global impact figures reflect the scale of the netwo

43、rk and services that FedEx has developed over the past five decades,and which the company continues to improve over time to meet customers needs.3 The direct impacts of FedEx Corporation on the overall value-added of a country or region for this analysis are estimated considering the annual revenue

44、that is generated by FedEx in FY 2023.Value-added is defined as the net contribution of an industry or sector to overall output or Gross Domestic Product(GDP).Value-added is a macroeconomic measure which is commonly used for economic impact assessment calculations.Besides the direct impact of FedEx

45、operations on national and sectoral output,the corporation also has indirect impact on industries through sectoral dependencies and backward and forward linkages.The Input-Output(I-O)Accounting annual table series published by the Bureau of Economic Analysis(BEA)for the United States and the Organiz

46、ation for Co-operation and Economic Development(OECD)for the global economy is used for computing this impact.4-5 Global direct and indirect impact figures are estimated to account for spillover effects of the FedEx network in regions where the company does not have operations.500,000+employees5,000

47、+facilities700+aircraft210,000+motorized vehicles14,500,000 shipments per business day(average daily volume)FEDEX BY THE NUMBERSGlobal economic impact2023 Economic Impact Report|FedEx62023 Economic Impact Report|FedEx7For example,in FY 2023:FedEx opened highly efficient new facilities across a range

48、 of locations,including Ireland,Poland,Australia,and South Korea.The company enhanced many existing facilities by investing in advanced sorting equipment,adding warehouse capacity,and expanding airport ramp and road truck operations.FedEx implemented operational efficiencies in some markets.For exam

49、ple,in Alaska,FedEx Ground began subcontracting with FedEx Express for pickup and delivery of Ground packages.This adjustment which was effective and seamless to customers has helped minimize duplicative pickup and delivery efforts,balance volume in the network,and optimize facility use.While FedEx

50、has continued to improve its network and services to create growth opportunities for customers,the company has also remained committed to its workforce employing more than 500,000 people around the world in a range of occupations.For example,FedEx relies on thousands of drivers,pilots,and maintenanc

51、e personnel to operate its expansive vehicle fleet.Package handlers,forklift drivers,and operations managers keep shipments moving in FedEx hubs,sorting facilities,and warehouses.The companys customs agents,trade consultants,and logistics experts help customers manage supply chains and navigate inte

52、rnational trade issues,while customer service personnel and retail staff help customers with other shipping,printing,and business needs.FedEx data scientists,software engineers,and other IT experts develop innovations that improve the companys operations.And across the enterprise,FedEx employs exper

53、ienced business professionals in roles such as sales,marketing,finance,and human resources.Indirect impactBeyond this direct impact,FedEx contributions to global net economic output create additional economic activity across its business network.For example,transactions between FedEx and local busin

54、esses help support revenues and employment at those companies,while FedEx services contribute to net economic output in other sectors of the economy such as manufacturing,transportation,construction,and retail.These contributions are considered the indirect impact of the global FedEx network.FedEx i

55、ndirectly contributed an estimated$35.3 billion to global net economic output in FY 2023.Across different sectors of the global economy,FedEx made the largest indirect contributions to the Transportation,Storage,and Warehousing sector6($18.4 billion)and the Manufacturing sector7($7.4 billion).Impact

56、s through the supply chainTo operate such a geographically diversified business,FedEx relies on a network of roughly 100,000 suppliers across its global footprint.FedEx purchases of goods and services from these suppliers generate additional economic activity beyond the direct and indirect impact of

57、 the companys operations.The spend with FedEx suppliers stimulates additional spending in regional,country,and local economies,as FedEx direct vendors in turn make purchases from thousands of other companies down the supply chain,including tier-two suppliers(companies that provide materials,componen

58、ts,or services to direct vendors)and tier-three suppliers(companies that provide materials and services to tier-two suppliers).6-7 As defined by the United Nations Conference on Trade and Development(UNCTAD).2023 Economic Impact Report|FedEx8Dun&Bradstreet analyzed FedEx spending with roughly 73,000

59、 unique suppliers over calendar year(CY)8 2022.9 Collectively,these suppliers employed nearly 22 million people.FedEx spent approximately$67 billion with these global suppliers during that time,providing a source of revenue that enables supplier companies to invest in their own operations and hire e

60、mployees.For example,FedEx spending supported an estimated 1.1 million jobs across its suppliers in CY 2022 nearly a 10%increase in total supplier jobs supported by FedEx spending in CY 2021.All four regions covered in this report recorded an increase in the number of supplier jobs supported by FedE

61、x spending in CY 2022,with the European supply chain experiencing the highest level of supplier job growth at 43%.FedEx supplier spending makes a significant contribution to the small-and medium-sized business(SAM)market.FedEx spent nearly$44 billion with SAM suppliers13 around the world in CY 2022,

62、and those purchases supported nearly 530,000 small business jobs.The number of small business jobs supported by FedEx supply chain spending increased the most in AMEA and Europe,with both regions recording a 19%increase.FedEx is also committed to working directly with diverse businesses that are com

63、petitive in quality,service,and cost.In FY 2022,the company spent$5 billion with minority-and women-owned businesses in the U.S.alone.FedEx also recognizes that diverse businesses can face a complex set of challenges.To help these suppliers overcome barriers to their success,FedEx provides diverse b

64、usinesses across the globe access to programs and networks that meet their specific needs,such as training,mentoring,networking,and access to capital.SUPPLY CHAIN SPENDING BY REGIONAMEA 50%AMEA$3.7 billionAmericas12 66%Americas10 56.4 billionEurope 64%Europe$7.3 billionUnited States 73%United States

65、$50.0 billionPERCENTAGE OF SMALL BUSINESS SUPPLY CHAIN SPENDING BY REGION118 Calendar year(CY)is defined as January 1-December 31.9 All supply chain data is for calendar year 2022.10,12 Includes Canada,Latin America,Caribbean,and the U.S.11 Values are estimated using Dun&Bradstreets analytical high-

66、confidence sample.13 Defined as companies with fewer than 100 employees.2023 Economic Impact Report|FedEx82023 Economic Impact Report|FedEx9for larger companies and smaller businesses that require less-than-container load freight shipments.FedEx Logistics also offers supply chain management services

67、 that include access to warehousing and distribution facilities,as well as online tracking and centralized purchase order management tools.Simplifying the complex world of customs,duties,and taxes is another way FedEx has helped smaller businesses capitalize on the growth potential from internationa

68、l sales.FedEx provides customs brokerage services,trade consulting,and compliance training for small businesses,as well as online tools like the Global Trade Manager and International Shipping Assist that help prepare documents,estimate duties and taxes,and streamline the customs process.FedEx is al

69、so committed to helping smaller businesses develop international business strategies by providing guidance and education.Resources on the companys online small business hubs include research reports on trends in cross-border commerce and guides for managing global supply chains,navigating customs re

70、gulations,and becoming an exporter.FedEx has also offered online classes geared toward helping small-and medium-enterprises participate in cross-border e-commerce.Since its inception,FedEx has seen how global trade lifts the fortunes of people and businesses,while driving economic growth.Through con

71、tinued support of pro-trade policies such as de minimis,expanded shipping,logistics,supply chain services,and education programs,FedEx will continue pursuing its mission to connect people and possibilities around the world.Impacts through the extended supply chainThe impact of FedEx supply chain spe

72、nding extends beyond the companys direct suppliers.To fulfill demand for goods and services,these vendors often make purchases from a network of their own suppliers,supporting additional revenue generation and job creation further down the supply chain.This additional economic impact occurs when Fed

73、Ex makes major purchases and from smaller,ongoing spending needed to support operations.For example,in FY 2023,FedEx regularly purchased thermal labels from Veritiv,a third-party distributor of packaging supplies.Those purchases support jobs and revenue at Veritiv(a direct FedEx supplier),but also a

74、t RR Donnelley(a tier-two supplier that manufactures the labels)and Ricoh(a tier-three supplier that provides RR Donnelley with the thermal label base stock).Encouraging trade that connects the world Trade is the lifeblood of the global economy.During its 50-year history,FedEx has focused on expandi

75、ng trade opportunities by supporting initiatives that make it easier for businesses of all sizes to connect with customers and suppliers around the world.FedEx is a strong supporter of trade policies that offer greater market access and efficiency for its customers.This includes advocating in favor

76、of provisions like de minimis allowances,which enable individuals and businesses of all sizes to import low-value goods without duties and taxes,as well as encouraging policymakers to break down non-tariff barriers to trade.This commitment began back in the companys earliest days when FedEx-led advo

77、cacy efforts helped encourage the U.S.Congress to deregulate domestic air cargo transportation.The regulatory change allowed FedEx to begin flying larger jets that offered more capacity for customer shipments.In the early 1990s,FedEx also worked closely with governments around the world to establish

78、 Open Skies agreements,which expanded access to international routes.Today,the U.S.has more than 100 Open Skies agreements with other countries,breaking down the barriers to international commerce.While working to support policies that expand international trade,FedEx has continually added services

79、that help businesses of all sizes participate in the global economy.The creation of FedEx Logistics in the 2000s added new options to assist in importing and exporting,including ocean and air freight services 2023 Economic Impact Report|FedEx 10Since FedEx began operations at Memphis International A

80、irport in 1973,the company has expanded its network and services to reach every corner of the U.S.Over the past 50 years,FedEx Express added a second major U.S.hub in Indianapolis,Indiana,established international shipping gateways in Anchorage,Alaska and Miami,Florida,and built regional hubs in For

81、t Worth,Texas;Newark,New Jersey;Oakland,California;and Greensboro,North Carolina.With approximately 370,000 employees operating out of roughly 4,800 U.S.facilities,as well as more than 7,000 independent service providers as of the end of FY 2023,FedEx has created a network that delivers critical goo

82、ds and services to every U.S.ZIP code,quickly and reliably.With the launch of FedEx Ground services in 1998,the company began offering home delivery services that now reach 100%of U.S.residences utilizing a network of service providers.The incorporation of FedEx Freight and FedEx Logistics offers mo

83、re ways to help U.S.businesses connect with customers,while FedEx Office provides printing and business services to support the vital small-and medium-size business market.Also,FedEx Dataworks provides smart e-commerce solutions and supply chain digitization tools to help customers increase their co

84、mpetitiveness.The business activity supported by these networks and services combined with the companys revenues,wages,and capital expenditures makes significant contributions to local economies around the country,and to the U.S.economy as a whole.Additionally,FedEx has a long history of working wit

85、h federal,state,and local governments to provide services that help with their day-to-day operations,as well as during crises.For example,the company engaged with the U.S.federal government to transport baby formula into the U.S.during the 2022 shortage as part of Operation Fly Formula.During these

86、types of initiatives,FedEx utilizes its integrated air and ground network to effectively transport shipments where and when they are needed most to help keep critical supply chains moving.Spotlight:The United States2023 Economic Impact Report|FedEx 102023 Economic Impact Report|FedEx 11EmploymentWit

87、h operations and employees in every state,FedEx is one of the largest employers in the country.FedEx is committed to supporting these employees with an inclusive,equitable,and growth-focused workplace.In FY 2023,61%of FedEx employees in the U.S.identified as minorities.Within U.S.management,employee

88、s that identified as minorities made up 40%of positions.FedEx is also dedicated to helping all team members develop their careers through learning and development opportunities,including Core New Employee Orientation thats tailored to fit team member responsibilities in their local workplace and the

89、 FedEx Learning Center that provides more than 25,000 online courses to employees after orientation.To support team members pursuing higher education,FedEx offers tuition assistance and the Learning inspired by FedEx(LiFE)program a partnership between multiple FedEx operating companies and the Unive

90、rsity of Memphis.The LiFE program offers tuition-free,fully-online degree options for more than 30 associates and bachelors programs of study.All FedEx Express employees at hub and airport locations in the U.S.,as well as all U.S.-based FedEx Logistics and FedEx Freight employees and all Memphis-bas

91、ed FedEx Supply Chain employees,are eligible.FedEx also provides competitive benefits to support employee health and quality of life,including healthcare,wellness,paid sick leave,other flexible paid time off,short-and long-term disability,and other benefits.Eligible full-and part-time employees may

92、elect these competitive health benefits offered by FedEx for themselves and their eligible dependents.As of May 2023,FedEx covered about 70%of total eligible healthcare costs at the plan level for approximately 212,000 participating employees.Direct impactAs a major provider of shipping and logistic

93、s services in the U.S.,FedEx has a substantial direct impact on the U.S.Transportation and Warehousing sector.14 FedEx contributed an estimated 8.2%of net economic output to this sector in FY 2023.For the U.S.economy as a whole,FedEx direct contributions made up 0.3%of total net economic output,a co

94、nsiderable impact for any single company within the$26 trillion(estimated)U.S.economy in FY 2023.To put that figure into context,FedEx makes a larger direct impact than 99.9%of the U.S.businesses in the Dun&Bradstreet Data Cloud.1514 As defined by the U.S.Bureau of Economic Analysis.15 The Dun&Brads

95、treet Data Cloud houses more than 520M+company records updated 20 million times per day.With over 30,000 vetted global data sources,D&Bs capacity and volume of business data provides its customers with best-in-class coverage,recency,and accurate analytics.Sources are continually monitored for change

96、s and the Data Cloud is updated accordingly.D&B collects and generates unique,proprietary“signals data”which is not resold and cannot be duplicated or found elsewhere in the market.2023 Economic Impact Report|FedEx 12Indirect impactBeyond its direct impact,FedEx indirectly contributed$8.7 billion to

97、 net output across the U.S.economy in FY 2023.The company made its largest impact in the Transportation and Warehousing sectors,16 where FedEx activities indirectly added nearly$2.6 billion to net economic output.However,the scale of the FedEx network and range of the companys services indirectly co

98、ntributed to net output in most major sectors of the U.S.economy.Measuring market-level impactIn addition to this impact on the overall U.S.economy,FedEx plays a notable role in the economic health of communities where the company has a large presence.Locations that host FedEx operating company head

99、quarters,regional sorting facilities,or major road or air hubs receive a range of direct economic contributions,including capital improvement projects,a concentration of local jobs,and substantial spending with local suppliers.This impact also extends beyond the local municipality to generate econom

100、ic activity across counties and entire states.To explore these contributions,Dun&Bradstreet analyzed the local economic impact from FedEx operations in 12 U.S.markets,including five metropolitan areas(Indianapolis,Miami,Memphis,Los Angeles,and Pittsburgh)and seven states(Alaska,California,Florida,Oh

101、io,New York,Tennessee,and Washington).The analysis is focused on the Transportation sector,where FedEx has a significant impact on the sectors overall net economic output because of the companys size and scale of operations.Even as FedEx made changes to its global operations in response to challengi

102、ng economic conditions in FY 2023,the company remains a significant employer in markets across the U.S.For example,FedEx employed more than 40,000 people in both Tennessee and California and nearly 20,000 in Florida in FY 2023.FedEx also continued to make substantial contributions to market-level ec

103、onomies through its spending with local suppliers.For example,FedEx spent$2.2 billion with suppliers in California in CY 2022,followed closely by$1.5 billion spent with local suppliers in Florida and$1.3 billion spent with local suppliers in New York.Spending with local suppliers also surpassed a ha

104、lf-billion dollars in several states,including Ohio($629.8 million)and Tennessee($602.8 million).These activities are part of the impact that FedEx has on economic growth in the communities where the company operates.The Transportation sector in all 12 analyzed markets experienced GDP growth in FY 2

105、023,and Transportation sector GDP growth was higher than overall GDP growth in nine of the 12 markets,reflecting the positive contributions that FedEx makes to overall county and state economies.16 As defined by the U.S.Bureau of Economic Analysis.2023 Economic Impact Report|FedEx 122023 Economic Im

106、pact Report|FedEx 13TennesseeTennessees location near the center of the country and its network of major interstates,railroads,and airports makes it an ideal transportation and logistics hub.The geographical location and mild climate were contributing factors to FedEx choosing to launch its services

107、 from Memphis International Airport in 1973.Today,Tennessee remains the center of the FedEx global network.The Memphis facility is the largest FedEx Express air hub in the world,occupying more than 3.6 million square feet and capable of handling 484,000 packages per hour.To support future growth,Fed

108、Ex is in the midst of a multi-year,$1.5 billion investment to upgrade and modernize its Memphis air hub.The companys presence in Memphis and across Tennessee has expanded dramatically during the past 50 years as FedEx has evolved into a global shipping and logistics giant.Today,Memphis is home to th

109、e headquarters for FedEx Corporation,FedEx Express,FedEx Freight,FedEx Dataworks,and FedEx Logistics making FedEx the largest employer in the metropolitan area.Overall,FedEx operates 318 facilities and employs roughly 42,000 people in Tennessee,as of FY 2023.In addition to the contribution of these

110、wages and capital investments,FedEx supports the Tennessee economy through extensive purchases with local companies.In CY 2022,FedEx spent$59.3 million with suppliers in Shelby County and$602.8 million with suppliers across the entire state.The deep roots that FedEx has developed in Tennessee also i

111、nclude ongoing support for local nonprofit organizations.For example,FedEx charitable giving in Memphis is focused on enabling inclusive economic growth by helping all residents gain access to education and employment opportunities.That has led the company to support a tuition-free high school aimed

112、 at adult learners who havent earned their high school diplomas;a nonprofit that provides affordable transportation options for under-resourced individuals to get to school or work;and a job-and life-skills training organization that helps Memphis residents break cycles of unemployment.A closer look

113、 at select markets in the U.S.2023 Economic Impact Report|FedEx 14IndianaWith its strategic location in the Midwest and extensive transportation infrastructure,Indiana is a hub for manufacturing,distribution,and logistics companies.Those characteristics attracted FedEx to establish an air hub at Ind

114、ianapolis International Airport in 1988 to support the companys continued expansion.Today,the Indianapolis facility is the second-largest FedEx Express hub in the world,a 3 million-square-foot facility capable of sorting up to 140,000 packages per hour and providing critical flexibility and capacity

115、 for U.S.and global shipments.The importance of this location inspired FedEx to launch an ongoing,$1.5 billion project to expand and modernize the Indianapolis hub.FedEx Express has also developed a large aircraft maintenance facility at the Indianapolis airport over the past 30 years,providing jobs

116、 for skilled aircraft technicians.Including the Indianapolis air hub,FedEx operates 54 facilities in Marion County,including a spin-off facility for the FedEx Ground Indianapolis hub that provides additional growth capacity for FedEx Ground services in the state.Collectively,these facilities employ

117、roughly 7,200 people in the area.FedEx also spent$78.3 with local suppliers in Marion County in CY 2022.These contributions from FedEx helped the Marion County Transportation sector achieve 1.8%GDP growth in FY 2023,outpacing the countys overall GDP growth rate of 1.1%.FloridaAs the countrys third-l

118、argest state by population and fourth largest by GDP,Florida is a major driver of economic activity in the U.S.The states proximity to the Caribbean and Latin America also made it the ideal place for FedEx to establish a Latin America and Caribbean(LAC)gateway at Miami International Airport.A recent

119、ly completed,$72 million project expanded the main sort facility by 138,000 square feet,introduced a new customs clearance area,and added a 70,000-square-foot cold chain facility the largest in the FedEx global network.These enhancements have helped streamline shipments between LAC and the rest of t

120、he world.FedEx also maintains a large network in Florida to effectively serve customers across the state.The company employs roughly 19,000 people at 254 facilities across Florida and continued to expand that network in FY 2023 with the construction of a new ground distribution center at Port Panama

121、 City.The 251,000-square-foot facility serves as Regional Distribution Headquarters for FedEx Ground service extending across the Florida panhandle,from Tallahassee to Pensacola.This network helped FedEx contribute to strong economic growth in Floridas Transportation sector.The sectors GDP increased

122、 8.3%in FY 2023,compared to 3.3%growth for Floridas overall GDP.FedEx contributions to the state economy also included$1.5 billion in spending with Florida suppliers in CY 2022.FedEx also uses its extensive Florida network and shipping expertise to support the companys chaitable Delivering for Good

123、program.In FY 2023,FedEx transported seven chimpanzees who had been rescued from biomedical facilities to their new home at the Save the Chimps sanctuary in Florida.2023 Economic Impact Report|FedEx 142023 Economic Impact Report|FedEx 15AlaskaAlaskas location in the far north and west make it a stra

124、tegic location for commerce between the U.S.and Asia.With the expansion of international shipping following the companys acquisition of Flying Tigers Line in 1989,FedEx established an air hub at Ted Stephens Anchorage International Airport to provide a critical transit point and refueling stop for i

125、nternational shipments.Today,the Anchorage hub is the companys third-largest U.S.customs clearance port,capable of sorting up to 25,000 packages per hour.To streamline and optimize operations in Anchorage,FedEx is in the midst of an estimated$200 million project to expand and upgrade the air hub.One

126、 portion of the project is focused on ramp and gate improvements that are providing new aprons,taxiways,and headstands to accommodate nine B-777 gates and three MD-11 gates.A second portion of the project will construct a new facility for FedEx Ground operations at the airport,allowing those operati

127、ons to move out of the current location in the air hub facility and into a brand-new facility connected by an aircraft feeder ramp.The activity at the Anchorage hub and at 29 other FedEx facilities across Alaska which employ approximately 1,300 people make valuable contributions to Alaskas Transport

128、ation sector,which is one of the stronger-performing areas of the states economy.In FY 2023,Alaskas Transportation sector generated 5.6%GDP growth,compared to 1.4%growth for the states overall GDP.FedEx also spent$20.5 million with local Alaska suppliers in CY 2022.CaliforniaCalifornia is a critical

129、 transit point for trade between the U.S.and other countries,with more than 40%of containerized cargo imports and 30%of U.S.exports passing through the states ports.To help move these goods while also serving customers across the countrys most populous state,FedEx maintains an extensive network of 5

130、32 facilities and nearly 42,000 employees in California.The company employs roughly 10,000 people in Los Angeles County alone,many of whom work at the FedEx Express sorting facility in Los Angeles a 300,000-square-foot facility capable of sorting up to 23,000 packages per hour.FedEx facilities in th

131、e Los Angeles area are connected to a major network of facilities in the Inland Empire,where road and rail hubs provide access to markets across the country.For example,FedEx Ground operates a hub in Rialto and a sorting facility in Chino,while FedEx Express operates an air hub at Ontario Internatio

132、nal Airport.Further up the coast,FedEx has a large presence near the busy port of Oakland,providing a key international transit point for shipments between the U.S.and Asia.With this infrastructure,FedEx makes important contributions to Californias Transportation sector,which experienced 3.6%GDP gro

133、wth in FY 2023 exceeding the 1.1%growth rate for Californias overall state GDP.FedEx spending with local California suppliers also has a positive impact on the states economy.In CY 2022,FedEx spent$2.2 billion with California suppliers.Recently,California has also become a critical market for the co

134、mpanys fleet electrification efforts.FedEx Express began operating BrightDrop electric delivery vans in California in FY 2022,and today the company uses more than 400 EVs across the state.2023 Economic Impact Report|FedEx 152023 Economic Impact Report|FedEx 16PennsylvaniaWith its location along the

135、Northeast corridor and 120,000 miles of state and local highways,Pennsylvania is a vital transportation hub that is strategically positioned within one-days drive of nearly 40%of the U.S.population.FedEx plays a significant role in Pennsylvanias transportation sector by operating 169 facilities acro

136、ss the state,providing vital links for north-south shipping along the East Coast,and to points west.FedEx added to its presence in Pennsylvania when it acquired Caliber System Inc.in 1998,including the Pittsburgh-based,small-package ground carrier RPS.This service was rebranded to FedEx Ground in 20

137、00,with its headquarters remaining in Pittsburgh to this day.FedEx has continued to make extensive investments in the area to improve facilities and enhance the companys sustainability.For example,in 2022,the company installed solar panel canopies over the parking lot at the FedEx Ground Headquarter

138、s and announced that it will open a$21 million,250,000-square-foot FedEx Ground distribution center in Hermitage.Today,FedEx employs approximately 3,300 people in Allegheny County and spent$43.9 million with local suppliers in the county in CY 2022.With contributions from FedEx,Allegheny Countys Tra

139、nsportation sector GDP grew 3.7%in FY 2023,compared to 2.3%growth for the countys GDP as a whole.OhioOhio ranks fourth among the 50 states in manufacturing GDP,leading the nation in the production of plastics and rubber,fabricated metals,and electrical equipment and appliances.To help connect Ohio b

140、usinesses with their customers and suppliers,FedEx operates a network of 153 facilities across the state staffed by nearly 14,000 employees,including major FedEx Ground hubs in Columbus and Toledo and a recently opened large package sorting facility in Etna.FedEx contributions to the Ohio economy he

141、lped generate 1.8%growth in the states Transportation sector in FY 2023,outpacing the overall state GDP growth rate of 1.1%.FedEx also contributes to Ohios economy through spending with local suppliers,which reached$629.8 million in CY 2022.Notably,Ohio is also home to the headquarters for FedEx Cus

142、tom Critical,a specialty service for shipments that need extra attention and care.FedEx Custom Critical provides expedited air and road shipping for time-sensitive shipments,as well as solutions for temperature-control shipments such as healthcare products,high-security shipping,and white-glove serv

143、ice for shipments that require special handling.Additionally,FedEx Custom Critical has been recognized by NorthCoast 99 as one of the best workplaces for top talent in Northeast Ohio for more than 20 years.2023 Economic Impact Report|FedEx 162023 Economic Impact Report|FedEx 17New YorkNew Yorks dive

144、rse economy,known for major contributions to global commerce,finance,culture,and innovation,is the third largest in the U.S.The states transportation infrastructure and location on the East Coast also make it a vital transit point for international trade.In 2022,New York was the fourth-largest impor

145、ter and exporter in the country.To support this economy,FedEx operates an extensive network of 222 facilities across the state that employ approximately 14,000 people,stretching from the island of Manhattan to upstate New York.These facilities include a major FedEx Ground hub in Syracuse and a new s

146、orting facility in Binghamton completed during FY 2023.The 470,000-square-foot facility features automated sorting equipment capable of handling up to 22,000 packages per hour.FedEx also spent$1.3 billion with local New York suppliers in CY 2022.These investments are part of the impact that FedEx ha

147、s on the New York economy.In FY 2023,those contributions helped the New York Transportation sector record 2.2%GDP growth,compared to 1.9%growth for the states overall GDP.New York Citys dense environment also provides FedEx with an ideal location to test new delivery innovations.In FY 2023,FedEx exp

148、anded a pilot program by rolling out more BrightDrop Trace Move electric carts(e-carts)to make holiday season deliveries in five locations in New York City the Diamond District,Theatre District,Midtown,Midtown East,and Brooklyn Heights.The previous year,FedEx tested the carts only in the Diamond Dis

149、trict.FedEx is exploring how last-mile solutions like e-carts can help reduce vehicle idling and redistribute delivery activity away from the curb,helping to alleviate bottlenecks on high-traffic streets.In the previous limited Manhattan pilot,FedEx couriers increased the number of total stops and s

150、tops made per hour when using the e-carts versus operations without them a win for couriers,customers,and the battle against vehicle congestion.WashingtonInternational trade is a driving force in Washingtons economy.Approximately 40%of all jobs in Washington are tied to trade,making it the most trad

151、e-dependent state in the nation.In 2022,Washington was the sixth-largest exporting state by value for merchandise and commodities.To support this economic activity,FedEx serves Washington with 118 facilities that stretch all the way to the far Northwest corner of the continental U.S.,including servi

152、ce by ferry to customers on the San Juan Islands.FedEx employs roughly 5,200 people in Washington,and the company spent$347 million with local Washington suppliers in CY 2022.The companys Washington presence also provides close proximity to two critical FedEx suppliers:Boeing and Microsoft.During th

153、e long relationship between FedEx and Boeing,the two companies have collaborated on the Boeing ecoDemonstrator program,which uses specially equipped airplanes to test innovative environmental and safety features.In 2020,FedEx also launched a strategic alliance with Microsoft to develop enhanced digi

154、tal commerce tools.The project combines the FedEx network and its logistics expertise with Microsofts AI capabilities and cloud platform to develop innovations such as FedEx Surround,a supply chain visibility tool that gives customers near real-time insights into the movement of physical inventory.I

155、n FY 2023,the two companies announced Dynamics 365 Intelligent Order Management,which combines FedEx network intelligence with capabilities from Microsoft Dynamics 365 to create an omnichannel order management application that uses data and visibility from the FedEx network to help businesses fulfil

156、l customer orders from the web,mobile phones,social media,and brick-and-mortar stores.2023 Economic Impact Report|FedEx 18FedEx began offering its first international shipments to Canada in 1981 and has expanded its footprint across North and South America and the Latin America and Caribbean(LAC)reg

157、ion in the decades since.Today,FedEx Express serves more than 50 countries and territories across the Americas with a network that reaches all the way to the tip of South America.The FedEx Express gateway at Miami International Airport in Miami,Florida serves as the primary connection point for mark

158、ets across North and South America.Thanks to an expansion of that location in FY 2022 which included additional sort capacity,a new cold chain facility,and a new customs clearance area to accelerate international shipments by shortening customs clearance times these markets now have even more connec

159、tivity to communities within the Americas region and around the world.These improvements and expedited transit times are critical,especially when it comes to shipping perishable products.For example,Colombia is the largest supplier of fresh flowers to the U.S.,and farmers rely on FedEx to reach 99%o

160、f U.S.destinations in less than three days from the time flowers are cut.FedEx Express continued to invest in the region in FY 2023 to enhance service and support economic activity,including improvements to the FedEx Express distribution center in Pudahuel,Santiago,Chile.See a detailed description o

161、f this project and other local initiatives in the Americas later in this section.With this presence,FedEx has a large direct impact on the regional economy.In FY 2023,FedEx operations across the Americas(including the companys U.S.operations)contributed 2.1%of net economic output in the Transportati

162、on,Storage,and Communications sector.17FedEx also indirectly contributed an additional$13 billion to net economic output in North and South America in FY 2023.The companys indirect impact was key in the Transportation,Storage,and Communications sector18 where FedEx contributed$8.3 billion(estimated)

163、to net economic output.However,FedEx also had a large indirect impact on other critical sectors in the Americas,such as Manufacturing.In FY 2023,FedEx indirectly contributed$1.8 billion(estimated)to the Manufacturing sector.19Spotlight:The Americas17-19 As defined by UNCTAD.2023 Economic Impact Repo

164、rt|FedEx 182023 Economic Impact Report|FedEx 19BrazilBrazil is the largest economy in South America and the seventh-largest economy in the world.Since FedEx began service in Brazil in 1989,the company has expanded its operations alongside the countrys economic power.One of the most important develop

165、ments came when FedEx acquired Rapido Cometa in 2012,which expanded the companys presence in the country by adding to the existing international service capacity and domestic transportation and logistics services within Brazil.The global integration of TNTs network following its acquisition by FedEx

166、 in 2016 further expanded the companys presence in the country.Currently,FedEx employs approximately 11,000 team members across Brazil.The FedEx network includes a gateway that offers five international flights per week,along with nine domestic hubs that connect to more than 5,300 locations in Brazi

167、l and provide highway access to four other countries in South America.With its growing presence in Brazil,FedEx Express has also strengthened its support for local communities through expanded charitable giving and volunteer efforts.For example,the company has run a program for seven years focused o

168、n recycling FedEx uniforms into blankets that are donated to charitable organizations.In FY 2023,FedEx Express recycled around 1.5 tons of old uniforms that were transformed into 5,500 blankets distributed to institutions supporting people in vulnerable situations and animal protection services in w

169、inter.Since inception,the uniform recycling program has benefited around 60 institutions,approximately 16,000 people,and 4,000 pets.A closer look at select markets in the Americas2023 Economic Impact Report|FedEx 20ChileFedEx began operations in Chile more than 30 years ago and today runs the countr

170、ys largest national delivery network.With service extending to more than 400 communities over more than 500 operational routes from the northern port city of Arica to Punta Arenas in Chiles southernmost Patagonian region FedEx Express connects businesses and customers across the country,and to the r

171、est of the world through five weekly international flights.In recent years,FedEx Express in Chile has invested in its facilities,introduced state-of-the-art equipment,and modified its fleet configuration to pursue sustainability goals and better serve small-and medium-sized businesses that have expe

172、rienced rapid growth in e-commerce sales.In FY 2023,FedEx Express expanded its distribution center in Pudahuel,Santiago from 7,600 square meters to 14,000 square meters.The installation of advanced sorting equipment has enabled the facility to process 6,000 packages per hour,doubling its original ca

173、pacity.The rate at which packages are simultaneously loaded into vehicles increased by more than 30%.These improvements reduce processing time and accelerate package pickup and delivery services for the largest e-commerce-focused distribution center in South America.During the expansion of the Pudah

174、uel distribution center,FedEx Express also installed EV charging infrastructure to support the companys goal of achieving carbon neutral operations by 2040.FedEx Express has also transformed its fleet in Chile to better serve the needs of smaller,e-commerce-focused businesses.The number of vans in t

175、he fleet grew from 235 in 2020 to 327 in CY 2023 an increase of almost 40%.Vans now account for 35%of the total vehicle fleet in Chile used to handle small packages.At the same time,FedEx Express continued to improve the efficiency of its larger trucks.At the beginning of CY 2023,FedEx Express in Ch

176、ile introduced its first tractor trucks with engines that meet the EPA2010 GHG21 standards,exceeding Chiles existing environmental standards for heavy-duty engines.The company also implemented comprehensive training for drivers and projects related to the use of wide tires and engine power set-up im

177、provements.Through these efforts,FedEx Express has achieved 5.8%improvement in energy efficiency in its fleet of 97 tractor trucks and 154 trailers that make daily trips on Chiles highways,and reduced CO2 emissions by 291 tons throughout the fiscal year.These efforts helped FedEx Express ground oper

178、ations in Chile achieve certification from Giro Limpio for the fourth consecutive year.An initiative of Chiles Energy Sustainability Agency,Giro Limpio recognizes companies for improving the environmental impact of their operations with ongoing initiatives in fuel,motor oil,and tires to reduce green

179、house gas emissions and fuel consumption relative to the load transported and the number of kilometers travelled.2023 Economic Impact Report|FedEx 202023 Economic Impact Report|FedEx 21CanadaFedEx ventured into Canada more than 35 years ago,marking its first international market.The company selected

180、 the Greater Toronto Area as the headquarters for FedEx Express Canada,and it has steadily expanded its presence across the country since then.As of May 2023,FedEx Express Canada operated with nearly 3,500 team members stationed at 70 locations,providing an extensive network of services.With 331 int

181、ra-Canadian flights and 116 international flights each week,along with ground service facilitated by approximately 5,000 vehicles,FedEx Express serves communities throughout the vast country.Over the years,Toronto has remained a pivotal location for FedEx Express Canada.Among its assets is its large

182、st hub at Torontos Lester B.Pearson Airport,one of the companys three hubs in the country.The impressive 342,000-square-foot facility has the capacity to process around 140,000 packages per day.In the nearby area of Etobicoke,FedEx Express inaugurated a new small-package sorting facility in 2020.The

183、 facility was strategically established to support the growing e-commerce industry in Canada.Equipped with the latest technology,it stands as the fastest FedEx Express facility in the country,capable of sorting up to 20,000 small packages per hour.Toronto has also been a launch site for FedEx Expres

184、s sustainable delivery solutions.The company began testing its initial fleet of e-cargo bikes in Toronto in 2020,providing a crucial proof-of-concept for sustainable delivery options in urban areas.Subsequently,FedEx extended the use of e-bikes across Canada and in other markets,helping to move the

185、company toward its goal of reaching carbon-neutral operations by 2040.In 2023,FedEx Express began conducting a second Toronto pilot of BrightDrops Trace Move propulsion-assisted,e-cart.This innovative solution aims to improve delivery efficiency and decrease physical strain on delivery drivers by st

186、reamlining the movement of goods from delivery vehicles to the customers doorstep in dense urban areas.Moreover,it has the potential to minimize vehicle idling and mitigate traffic bottlenecks by redistributing delivery activity away from congested curbs.This history of expansion and innovation have

187、 helped support economic growth in Canada.With its nationwide FedEx Express footprint,along with additional shipping and logistics services offered by FedEx Ground,FedEx Freight,and FedEx Logistics,the company is committed to connecting communities across the country and providing a vital link betwe

188、en Canada and the rest of the world.2023 Economic Impact Report|FedEx 2220-21 As defined by UNCTAD.FedEx began intercontinental service to Europe with the acquisition of Gelco Express International in 1984.This was followed by the opening of the companys primary air hub in 1999 at Roissy-Charles De

189、Gaulle Airport(CDG)in Paris.Since then,FedEx Express has significantly expanded and improved its European network,now serving more than 45 countries across the continent.The acquisition of TNT Express in 2016 added a second air hub at Lige Airport in Belgium to connect large European markets and cri

190、tical road networks that connect countries within Europe and in other regions such as the Middle East.Building on these additions,FedEx Express continued making investments to optimize its network in Europe in FY 2023,including the installation of new sorting equipment at its Stuttgart,Germany facil

191、ity to improve package handling speed;the opening of a new ground operations center in Gdansk,Poland;and the completion of major road hubs in the Netherlands and Italy that will further improve intra-European shipments and support economic activity across the continent.Read more about the new road h

192、ubs in the Netherlands and Italy later in this section.With these investments and the companys ongoing operations in Europe,FedEx directly contributed an estimated 0.4%to net economic output in the Transportation,Storage,and Communications sector20 in FY 2023 a sector in which total net economic out

193、put was estimated to have increased nearly 6%,to$2.1 trillion,year-over-year.In addition to its direct impact,FedEx indirectly contributed approximately$2.4 billion to net output across the entire European economy in FY 2023.As in other regions,FedEx made the largest(estimated)contribution to the Tr

194、ansportation,Storage,and Communications sector21($881 million),which is closely related to the companys core services.Regional spotlight:Europe2023 Economic Impact Report|FedEx 222023 Economic Impact Report|FedEx 23The NetherlandsThe Netherlands is a critical location for FedEx on the European conti

195、nent,home to the FedEx Express European headquarters in Hoofddorp and over 3,100 employees across more than 30 facilities.FedEx Express made a major investment in the Netherlands during the last two years by rebuilding and improving its international road hub in Duiven.The modernized hub reopened in

196、 April 2023 with increased handling capacity,improved reliability,and an enhanced working environment for team members.The 24,000-square-meter facility now employs a state-of-the-art sorter that can process 200,000 parcels a day.The Duiven sites overall area of 148,000 square meters also can accommo

197、date far more vehicles than it could in 2021,with more docks,improved yard operations,and a 20%increase in the trailer parking area.All these improvements represent a three-fold increase in the hubs capacity.These investments made Duiven one of the most technologically advanced of the 28 FedEx Expre

198、ss road hubs in Europe,offering improved service to European customers thanks to its central location in the“Blue Banana,”a densely populated corridor of vibrant economic activity that stretches between northwest England and northern Italy.The hub also provides a key connection point to all other Eu

199、ropean FedEx Express road hubs,a network that links 45 European countries,serves more than 700 pickup and delivery stations,and handles 1.3 million international shipments per week.A closer look at select markets in Europe2023 Economic Impact Report|FedEx 24ItalyFedEx strengthened its operations in

200、Italy with the opening of a new road hub in Novara in FY 2023.Located at the heart of the European road system and with easy access to the primary FedEx Express air gateway at Malpensa Airport,the Novara hub is ideally positioned to serve the vital economic regions in the Mediterranean Basin.The 70

201、million facility features separate freight and package buildings with the capacity to sort and handle 21,600 small parcels,8,000 documents,and 4,000 shipments of heavy and bulky items per hour.The facility is also certified at the LEED Gold level,reflecting the companys commitment to minimize its en

202、vironmental impact.The new road hub builds on several years of FedEx Express investment in Italy,including the creation of new air gateways in Bologna and Roma Fiumicino,as well as an expansion of the Venice gateway during the second half of 2022.The new gateways,which are part of an initiative to b

203、etter integrate air networks in Europe,added more than 15,000 square meters of space for improved sorting capacity and added network reliability.In addition to the 450 jobs created at the Novara road hub,FedEx Express has added to its workforce across Italy by shifting from external suppliers to dir

204、ect hires for handling operations at its domestic hubs and some ground operations stations.Since 2021,the change has added nearly 1,000 new direct employment positions.In April 2023,FedEx Express also announced plans to add over 200 more positions at nine ground stations located in Palermo,Catania,N

205、aples,Roma Cinecitt,Roma Est,Venice,Verona,Bergamo,and Brescia.France Opened in 1999,the FedEx Express hub at Charles De Gaulle Airport(CDG)in Paris is now the companys largest hub outside of the U.S.,providing vital air connections between Europe,North America,the Middle East,and Asia.The importanc

206、e of this location inspired FedEx to invest more than$600 million in the facility since 1999,resulting in a state-of-the-art hub that offers customers faster,more reliable service.Modernization improvements include a high-speed,automated sorting system that expanded the facilitys sorting capacity by

207、 46%with the ability to process up to 68,000 packages per hour.Other upgrades focus on important sustainability features,including 500 square meters of solar panels to provide hot water in the facility and LED lighting and sensor controls to save energy.More than 80%of the ground vehicles in the Fed

208、Ex fleet at CDG run on electricity or liquefied petroleum gas(LPG)to reduce carbon emissions.With these improvements,FedEx Express employed more than 5,000 people in the area around the CDG hub in FY 2023 and is estimated to contribute nearly 1.9 billion to the local economy annually.2023 Economic I

209、mpact Report|FedEx 25Regional spotlight:AMEA22-24 As defined by UNCTAD.FedEx began service to Asia in 1984 and today serves more than 100 markets across the Asia Pacific,Middle East,and Africa(AMEA)region.For nearly 40 years,FedEx has strengthened its network in the AMEA region to support some of th

210、e worlds largest and fastest-growing economies.FedEx Express operates its Asia Pacific air hub at Baiyun International Airport in Guangzhou,China and sub-regional hubs at Kansai International Airport in Osaka,Japan;Changi International Airport in Singapore;Pudong International Airport in Shanghai,Ch

211、ina;and Dubai International Airport in the United Arab Emirates.To accommodate international shipment growth,the company has increased connectivity to and from the region over the past several years.The FedEx footprint in the region also includes sub-regional headquarters in Shanghai,China;Tokyo,Jap

212、an;Singapore;Sydney,Australia;and Mumbai,India.In FY 2023,FedEx continued to invest in its network and services,including an AI-powered intelligent sorting robot at its sub-regional hub in Singapore in December 2022.This improvement is an example of the companys efforts to digitize its operations an

213、d build a smart logistics network.FedEx also opened several new facilities in the region,including a new pickup,delivery,and self-pickup/drop-off station in Taoyuan City,Taiwan;a new warehouse in Batam,Indonesia;a new vehicle ramp at the Penang,Malaysia gateway warehouse;and new air gateways in Aust

214、ralia and South Korea that are described in detail later in this section.With these investments,along with the impact of ongoing FedEx operations,FedEx Express contributed 0.3%of net economic output in the Transportation,Storage,and Communications sector22 in the AMEA region in FY 2023.Across all se

215、ctors of the AMEA economy,FedEx Express contributed 0.02%of total net output,which grew approximately 6%in FY 2023 to$44 trillion.Beyond its direct impact,FedEx Express indirectly contributed$2.7 billion to the economy of the AMEA region in FY 2023.Among specific industries,FedEx Express indirectly

216、contributed$1.0 billion to the regions critical$9 trillion Manufacturing sector(estimated).23 The companys indirect contribution to the Transportation,Storage,and Communications sector24 was estimated as$772 million.2023 Economic Impact Report|FedEx 252023 Economic Impact Report|FedEx 26AustraliaThe

217、 extensive FedEx Express network in Australia connects businesses and communities throughout the country and across the Tasman Sea to New Zealand.The company employs more than 5,100 team members in Australia and operates five gateways,56 stations,2,600 vehicles,and 24 flights in and out of the count

218、ry each week to provide global connectivity.In FY 2023,FedEx continued to strengthen its already extensive and deep domestic network within Australia through investments in new infrastructure,expanded shipping options,and innovative digital solutions enabling local Australian businesses to reach dom

219、estic and worldwide markets in a timely and efficient manner.One highlight is the opening of a new Adelaide gateway that was developed in response to major freight upgrades at Adelaide Airport.The 64,000-square-meter facility is the largest single express sorting facility in South Australia and is e

220、quipped with an advanced automated sorting system that will help accommodate surging air freight volume in Adelaide that is expected to more than double in the next 20 years.With its enhanced capabilities,the Adelaide gateway will streamline importing and exporting and provide local businesses more

221、reliable access to other cities in Australia.The new facility also enables one-day delivery service to homes and businesses in an additional 130 postcodes across metropolitan and regional South Australia,helping improve last-mile delivery service for businesses of all sizes.Further,the gateway inclu

222、des extensive sustainability features,like EV charging stations,a 4,500-square-meter skylight to provide natural light,and 100%LED lighting that reduces electricity usage by 50%annually compared to traditional lighting.FedEx Express also expanded its shipping capacity between Australia and New Zeala

223、nd in FY 2023 to support the strong bilateral trade relationship between the two countries.The company added five new weekly trans-Tasman flights that directly connect Christchurch,Auckland,and Melbourne,bringing the total number of FedEx Express weekly flights between the two countries to 10.Additi

224、onal service improvements include longer cut-off times in Melbourne that give customers more time to prepare shipments,access to next-day International Priority shipping between Christchurch and Australia,and a one-day improvement in International Priority Freight for shipments from Melbourne,Sydney

225、,and Brisbane to Christchurch.Additionally,FedEx Express enhanced customers digital experience in FY 2023.The company announced a collaboration with Starshipit,a leading shipping and fulfilment platform for small-and medium-sized businesses that allows e-tailers to easily tap into the international

226、e-commerce market.FedEx Express also launched FedEx Delivery Manager International,a digital e-commerce delivery solution for residential customers in Australia and New Zealand.The interactive delivery solution is available as a WhatsApp service in Australia,which will facilitate last-mile deliverie

227、s for small-and medium-sized businesses.A closer look at select markets in AMEA2023 Economic Impact Report|FedEx 27ChinaChina is home to one of the largest FedEx operations in the world,where a team of more than 11,000 employees helps operate over 100 FedEx stations nationwide,a fleet of more than 3

228、,000 vehicles,and 300 purple tail flights in and out of the country each week.In FY 2023,FedEx Express continued to invest in its China operations to empower the countrys small-and medium-sized businesses with enhanced connections to global markets.FedEx Express announced plans to upgrade its Guangz

229、hou gateway by establishing a new FedEx South China Operations Center in Guangzhou.Guangzhou is Chinas international trade center,where the total value of imports and exports reached 1.09 trillion RMB in 2022 and accounted for 13.2%of foreign trade in Guangdong Province.The new facility will cover a

230、n area of more than 41,000 square meters more than double the size of the current Guangzhou gateway.These improvements will provide stronger support for shipments between South China and global markets and facilitate cross-border trade in the region.In establishing the South China Operations Center,

231、FedEx Express also signed a Memorandum of Understanding with Guangzhou Municipal Government to fully cooperate on customs clearance and cross-border e-commerce.This agreement will help improve customs clearance efficiency,connect customers in Guangzhou and southern China more effectively to global m

232、arkets,and further promote the development of small-and medium-sized business and cross-border e-commerce.In a similar agreement,FedEx Express established a strategic collaboration with the Xiamen Municipal Government and signed a Memorandum of Understanding with Xiamen Transportation Bureau to expl

233、ore opportunities to strengthen cooperation in various areas,including air network planning,infrastructure,supply chain management,cross-border e-commerce,and sustainable logistics.FedEx Express also continued to collaborate with private-sector companies in China to help small-and medium-sized busin

234、esses engage in foreign trade.Important relationships include an alliance with DianXiaoMi,a compatible provider offering a wide range of logistics and warehouse management,and PingPong,a leading cross-border trade payments platform.2023 Economic Impact Report|FedEx 272023 Economic Impact Report|FedE

235、x 28IndiaWith the worlds largest population,India is a critical player in the global economy and a strategic priority for FedEx.Since beginning operations here in 1984,FedEx Express has focused on growing its business in India.As of May 2023,India is home to more than 2,900 FedEx Express employees a

236、nd three major international gateways.In FY 2023,FedEx Express continued to expand its network in the country while also making investments to support sustainability and innovation.Recently,FedEx improved its current gateway based in the New Delhi Cargo Complex.The 18,000-square-foot facility includ

237、es offices,semi-automated systems capable of sorting up to 8,500 packages per hour,and warehouse operations.The buildings design includes sustainable features such as solar energy and an advanced variable refrigerant volume cooling system that reduces electricity consumption by an estimated 15%.Thes

238、e energy-saving features build on other sustainability advancements in India that are helping move FedEx closer to its environmental sustainability goals.For example,FedEx Express has incorporated electric vehicles into its Delhi operations;added digitized shipping solutions such as WhatsApp integra

239、tion,FedEx Delivery Manager International,and FedEx Electronic Trade Document for customers;as well as launched FedEx Sustainable Insights,a cloud-based platform that gives customers visibility into the carbon footprint of their shipments.FedEx Express also made investments to support Indias innovat

240、ion economy.The company announced plans to open its first Advanced Capability Community(ACC)in Hyderabad,India.The FedEx ACC will be staffed by full-time employees to support the development of technological and digital innovations that enable FedEx to provide even greater value in the global supply

241、 chain ecosystem.Hyderabads engineering and digital enterprise talent pool made it an ideal location for the first of several ACCs planned for different locations around the world.The company also launched the FedEx Innovation Lab(FIL)to make investments in early-stage digital start-ups in India as

242、well as the wider region.FIL has made two investments:one in a computer vision and Artificial Intelligence(AI)company that offers an industry-leading AI platform to help marketing,product,and technology teams optimize their operations,and another in a leading global circular supply chains solutions

243、provider for e-commerce brands.2023 Economic Impact Report|FedEx 29South KoreaSouth Korea is the fourth-largest exporter in Asia and the worlds fifth-largest e-commerce market.To better serve customers in the country,FedEx Express enhanced its already extensive network in South Korea which includes

244、21 Express stations,410 vehicles,and 1,140 team members by opening the new FedEx Express Incheon gateway in FY 2023.Opened in November 2022 at Incheon International Airport,the 23,395-square-meter facility includes advanced automated sorting equipment and 78 conveyor belts with the capacity to sort

245、12,000 packages per hour double the capacity of the previous facility.The gateway connects to the extensive FedEx network with 58 purple tail flights into and out of South Korea each week.These enhanced capabilities will open up new possibilities for small-and medium-sized business and heavy freight

246、 shippers seeking access to the U.S.,Europe,and intra-Asia markets.FedEx strengthened its services for customers in South Korea with earlier scheduled flights from Guangzhou to Incheon,combined with faster package processing capabilities at the new FedEx Incheon gateway.The company improved inbound

247、delivery times to offer same-day delivery of packages arriving from the U.S.,Europe,and Asia to customers in Seoul and the greater Seoul area,and same-day delivery to customers nationwide for packages arriving from Asia and Europe.The new gateway is also designed to meet growing demand for cold-chai

248、n shipments,with three separate refrigeration chambers that are built to comply with the European Medicines Agencys Good Distribution Practice standards for temperature-controlled storage.The new cold storage facilities provide a five-fold increase in refrigeration capacity to support the transport

249、of a wider-range of temperature-sensitive shipments,such as vaccines,samples for clinical trials,and other perishable items.Built with a focus on sustainability,the FedEx Express Incheon gateway is certified as a Green Standard for Energy and Environmental Design(G-SEED)25 facility.Nearly one-fifth(

250、19%)of the facilitys required energy is supplied by electricity from 2,400 rooftop solar panels,and the buildings green roof reduces heat transfer to lessen demand for heating and cooling.More than 1,000 square feet of skylights increase natural light,with all other illumination supplied by energy-e

251、fficient LED lighting.The facility also collects and re-uses rainwater to reduce water consumption.In addition to these facilities investments,FedEx has enhanced convenience for customers by adding self-service collection at 12,000 7-Eleven stores in South Korea to give small-and medium-sized busine

252、ss more options to reach their customers.25 Green Standard for Energy and Environmental Design(G-SEED)is a certification system managed by the government of South Korea to evaluate the environmental friendliness of buildings.2023 Economic Impact Report|FedEx 292023 Economic Impact Report|FedEx 30Thr

253、oughout its 50-year history,FedEx has supported the entrepreneurs and small-and medium-sized businesses(SAMs)that are a driving force in the global economy.The company has developed shipping,logistics,and printing services that connect SAMs to their customers.At the same,FedEx is committed to helpin

254、g SAMs strengthen and expand their operations through resources such as online FedEx Small Business Centers in several regions,international trade and e-commerce education programs,and partnerships with nonprofits and small-business accelerator programs.FedEx also directly supports small businesses

255、through its supplier spending 90%of FedEx suppliers are SAMs,and FedEx purchases with those companies supported nearly 530,000 jobs in CY 2022.FedEx expanded its commitment to SAMs 11 years ago by creating the FedEx Small Business Grant Contest.This annual awards program provides funding to help suc

256、cessful entrepreneurs and small companies accelerate their growth.To date,the contest has awarded nearly$2 million in grant money and credits for FedEx services,and has been offered in the U.S.,Canada,Europe,AMEA,and LAC.Supporting the success of small businesses around the worldThroughout FY 2023,F

257、edEx awarded small business grants to 77 companies around the world:In the U.S.,10 companies received grants from the FY 2023 Small Business Grant Contest,including a technology company that provides virtual reality therapy to pediatric patients,a premium cupcake bakery,and a company that recycles f

258、ood waste into organic biofertilizer.One winner,a veteran-owned pet supply company,also received an additional grant courtesy of USAA as part of the contests commitment to support veteran-owned businesses.In AMEA,four companies received grants in FY 2023,including a grand prize awarded to GoKwik,an

259、India-based company that provides artificial intelligence and machine learning software to help e-commerce businesses increase their sales.In LAC,63 companies received grants in FY 2023,including first-place winner My Foods.My Foods is a Chilean company that produces gluten-free flours and ready-to-

260、make baking mixes while promoting education on celiac disease and food allergies.Learn more about the FedEx Small Business Grant contest at .2023 Economic Impact Report|FedEx 302023 Economic Impact Report|FedEx 31The FedEx Effect extends beyond the impact of the companys business activities.For 50 y

261、ears,FedEx has worked to improve the prosperity and health of the communities it serves through annual charitable giving,in-kind shipping,and team members volunteer efforts.In 2019,FedEx Cares built on this legacy of giving back by launching its ambitious 50 by 50 campaign,which aimed to positively

262、and directly impact 50 million people by the companys 50th birthday in April 2023 mission accomplished!FedEx team members exceeded this goal by collaborating with and supporting more than 900 nonprofit organizations around the globe that provide humanitarian aid,promote the next generation of entrep

263、reneurs,support underserved communities,and prioritize sustainable solutions for a cleaner,safer,and more equitable world.$58.6M in total charitable contributions in FY 20232023 Economic Impact Report|FedEx 31FedEx Cares2023 Economic Impact Report|FedEx 32Examples of FY 2023 charitable donations aro

264、und the world:In June 2022,FedEx provided a donation to the U.S.Chamber of Commerce Foundation to motivate small businesses to prepare for disasters and to provide funding for 100 disaster recovery grants awarded to small businesses impacted by disasters.In July 2022,FedEx Express in China expanded

265、its collaboration with the Library Project team of the Wuxi Lingshan Charity Foundation to cover more schools in rural areas.The annual FedEx Library Program donates reading rooms or book corners to rural primary schools in underprivileged areas across China and empowers rural teachers with the tool

266、s to become better reading instructors.Since 2012,more than 500 FedEx team members have been actively involved in the FedEx Library Program,which has established 32 libraries and donated 30,800 books,benefiting more than 5,400 children.26 After the historic flooding across Kentucky in August 2022,He

267、art to Heart International delivered life-saving prescription medicines and supplies to families trapped by the disaster via a mobile medical van donated by FedEx.In August 2022,FedEx Express in India donated electric bikes and solar panels to the Akshaya Patra Foundation,helping them adopt sustaina

268、ble solutions in their day-to-day operations.The savings derived from these solutions enabled the non-governmental organization to feed more than 2,800 children during a complete academic year.In January 2023,FedEx Express in Indonesia collaborated with YKAN Foundation on a year-long program to supp

269、ort seaweed farmers in the Wakatobi Regency with training on ecologically sustainable farming practices and cross-border e-commerce opportunities.27 In February 2023,FedEx provided a donation to the Red Cross to support aid and recovery efforts for earthquakes that impacted Turkey and Syria.In March

270、 2023,FedEx helped launch the ninth Vital Voices(VV)GROW Fellowship cohort,expanding the program from 50 to 100 participants from 42 countries.The fellowship provides business skills training and mentorship to women entrepreneurs leading purpose-driven businesses that advance the U.N.Sustainable Dev

271、elopment Goals.In May 2023,global eye cares nonprofit Orbis International,with generous support from FedEx,launched its first surgical program since 2020 on board the Flying Eye Hospital a fully accredited ophthalmic teaching hospital on board a plane donated by FedEx.For three weeks,Orbis trained 5

272、0 eye care professionals from the Can Tho region of Vietnam to treat the leading causes of blindness and visual impairment in their communities.In May 2023,FedEx Express awarded a grant to Slow Food Italy,a nonprofit association committed to protecting food biodiversity.The grant will help fund 10 n

273、ew FedEx-sponsored Slow Food Presidia and two new Earth Markets to further promote and preserve local food biodiversity throughout Italy.28 FedEx sponsors the FedEx/Junior Achievement International Trade Challenge,which aims to nurture the entrepreneurial spirit and business skills of students.In FY

274、 2023,nearly 5,000 school students from 10 AMEA markets participated in the competition.Since 2007,this program has impacted more than 45,000 students across the region.26-27 Funds provided in cooperation with United Way Worldwide.28 Funds provided in cooperation with United Way Worldwide and Charit

275、ies Aid Foundation.2023 Economic Impact Report|FedEx 33Examples of FY 2023 team volunteering across the globe:In November and December 2022,team members in Hungary and Romania volunteered their time toward repair and building projects with Habitat for Humanity,a global housing nonprofit organization

276、 that helps people build or improve a place they can call home.Team members across the U.S.,Canada,Chile,and Puerto Rico volunteered to provide more than 8,400 pairs of shoes and more than 18,500 winter coats,funded by FedEx,to children at 70 schools in collaboration with nonprofit Operation Warm.In

277、 Chile,Colombia,and Argentina,FedEx teams volunteered more than 3,500 hours throughout the fiscal year to help more than 19,000 families in need.In India,more than 200 team members volunteered their time toward painting nine playscapes in multiple cities that will help develop the cognitive skills o

278、f children from underserved areas.These playscapes were built using recycled material and benefited more than 6,500 children.In March 2023,FedEx Express volunteers in Panama and Guatemala built four emergency homes over 700 hours with TECHO,a nonprofit organization dedicated to fighting poverty in L

279、atin America.In April 2023,more than 150 team members in Dubai and Cairo volunteered a total of 300 hours to sort and pack approximately 4,800 food boxes for the underprivileged during the month of Ramadan.Team members around the world gave back to their communities through the 50 Days of Caring ini

280、tiative,consisting of more than 200 service projects and culminating in more than 17,300 volunteer hours during the 50 days leading up to the companys 50th birthday.On the companys 50th birthday on April 17,more than 2,500 team members volunteered over 6,800 hours at more than 60 service projects gl

281、obally.2023 Economic Impact Report|FedEx 34Examples of FY 2023 in-kind shipping:The FedEx Delivering for Good program works with aid organizations around the world to mobilize the companys transportation network to provide disaster relief.In June 2022,FedEx delivered two Humvee ambulances that the c

282、ompany donated and 52 tons of critical medical aid to first responders and healthcare providers in Ukraine.Separately,FedEx also delivered 750 emergency medical backpacks to Ukraine on behalf of the nonprofit Direct Relief,with each backpack containing enough resources to serve up to 500 people.In S

283、eptember 2022,FedEx responded to Hurricane Ian in Florida in numerous ways,including donating and shipping 20,400 ready-to-eat meals to the American Red Cross.In November 2022,FedEx supported Direct Relief by transporting 2,000 pounds of cholera treatment supplies to Haiti.In early 2023,FedEx delive

284、red 17 tons of essential items to victims of wildfires in Chile.In February 2023,FedEx announced it had committed more than$1 million worth of in-kind shipping to help provide relief to those affected by the earthquakes that devasted Turkey and Syria.FedEx delivered relief supplies that included wat

285、er treatment systems and water purification packs;hygiene kits;medicines and medical supplies;PPE;and infant formula.FedEx also supported multiple nonprofits to assist with relief efforts following Hurricane Fiona in Puerto Rico and tornados in Mississippi and Arkansas.These positive impacts are the

286、 result of dedicated work by the nonprofit organizations FedEx supports along with the volunteer efforts of FedEx team members.Exceeding the 50 by 50 goal has inspired FedEx to continue developing new ways to support people and organizations strengthening communities in the years to come.In that spi

287、rit,the company announced the FedEx Founders Fund on April 17,2023,a new endowment to honor founder Frederick W.Smiths legacy.To launch this initiative,FedEx Cares has committed an initial$2 million to provide awards to entrepreneurs and nonprofit organizations selected by FedEx team members around

288、the world.2023 Economic Impact Report|FedEx 35FedEx has targeted investments in three key areas:Vehicle electrificationSustainable energyStrategic investments in the development of climate solutions like carbon capture researchFedEx has a 50-year history of growth and evolution.Just as the company t

289、ransformed how people and businesses connect over those 50 years,FedEx has been working to create a more sustainable future,illustrated by the companys goal to achieve carbon neutral operations by 2040.Between FY 2009 and FY 2022,FedEx reduced carbon dioxide emissions intensity on a revenue basis by

290、 48.9%,even as average daily package volumes grew by 142%during the same period.The companys Practical Sustainability philosophy and Reduce,Replace,Revolutionize approach guide the sustainability strategy and steps towards its goal of carbon neutral operations.FedEx team members are working to reduc

291、e the environmental impacts of their operations,replace the status quo with better and more sustainable solutions,and innovate responsibly by pursuing the revolutionary new technologies of the future.2023 Economic Impact Report|FedEx 35Delivering a more sustainable future2023 Economic Impact Report|

292、FedEx 362022 EI Report|FedExVehicle electrificationTransitioning commercial fleets to electric vehicles can play an important role in combatting climate change.With an overall fleet of 210,000 motorized vehicles,FedEx has a goal to convert a substantial portion of its vehicle fleet,particularly its

293、parcel pickup and delivery(PUD)vehicles,to electric vehicles(EVs).FedEx has already built out hundreds of charging stations across its U.S.facilities to support the electrification of the companys PUD fleet as well as the EV transition of service providers.As of the end of FY 2023,FedEx Express oper

294、ated more than 400 BrightDrop Zevo 600 electric delivery vans in California.Additionally,FedEx is working to electrify non-road equipment like forklifts and airport ground service equipment.For example,FedEx Freight has so far converted 15%of its forklift fleet to electric.In China,FedEx operated 38

295、1 EVs in FY 2023,accounting for 13%of its local fleet.FedEx Express introduced EVs in several other markets across Asia in FY 2023,including Malaysia,Singapore,Taiwan,and Thailand.In Canada,FedEx operates 43 e-cargo bikes across five provinces.Since 2020,these bikes have travelled more than 116,000

296、kilometers,averting an estimated 32 tonnes of CO2 so far.In FY 2023,FedEx Express introduced dozens of EVs in markets across the Middle East and Africa,including 30 electric delivery vehicles in India that are expected to help avoid more than 1.3 tons of carbon emissions annually,each.Additionally,t

297、he company introduced 10 EVs in South Africa and 14 in Jordan,e-cargo bikes in Morocco and Pakistan,and completed an electric delivery van pilot program in the UAE.In October 2022,FedEx Express announced the installation of 114 electric vehicle charging terminals at key facilities in north and south

298、 London,Madrid,Amsterdam,Paris,and Strasbourg.This critical infrastructure will lay the groundwork for FedEx to meet its fleet electrification goals in the coming years.FedEx increased its use of EVs across the LAC region.For example,the company added nine new EVs into its Brazil operations,specific

299、ally in the northeastern cities of Recife and Salvador,in March 2023 and introduced the first eight EVs into its Mexico City operations in May 2023.FedEx also completed e-cargo bike pilots in Colombia,Chile,and Mexico City in FY 2023.2023 Economic Impact Report|FedEx 362023 Economic Impact Report|Fe

300、dEx 37Fuel conservation and sustainable fuelsFedEx is also working to reduce aircraft and road vehicle emissions through fleet modernization and the use of cost-effective alternative fuels.Globally,FedEx avoided using 150 million gallons of jet fuel by modernizing its aircraft in FY 2022 equivalent

301、to a 10.76%reduction in total consumption.Almost half(48%)of the diesel fuel FedEx Ground sold to service providers in FY 2022 was made up of biodiesel blends.Since November 2022,a small portion of FedEx-owned linehaul trucks in the Netherlands have been using renewable diesel fuel made from organic

302、 waste materials.In India,FedEx Express replaced 18 PUD diesel vans with Compressed Natural Gas(CNG)in FY 2023.In the United Arab Emirates,FedEx Express switched from conventional diesel to biodiesel for 19 vehicles in FY 2023.Sustainable energyAlongside its fleet electrification and alternative fue

303、l efforts,FedEx has introduced initiatives to reduce greenhouse gas emissions through renewable energy and efficiency projects at its facilities around the world.29 global FedEx facilities generated on-and off-site solar energy in FY 2022.FedEx Express has received ISO 14001 certification for all on

304、-airport locations in the U.S.In February 2023,FedEx Express opened a new handling facility in Cork,Ireland that is LEED silver rated.In April 2023,FedEx Express launched a solar installation project at its ground operations station in Shunyi,Beijing.The 2,000-square-meter rooftop solar panel system

305、 is expected to generate 360,000 kWh of electricity annually,which would save more than 110 tons of standard coal and reduce over 350 tons of CO emissions per year compared to conventional coal-fired thermal power.Supporting innovative solutionsBeyond making its own operational improvements,FedEx is

306、 investing in emerging technologies that support a more sustainable future through strategic philanthropy and advocacy efforts.FedEx is investing in carbon capture through its support for the Yale Center for Natural Carbon Capture.The company has pledged$100 million to establish the Center and fund

307、interdisciplinary research to advance nature-based carbon removal solutions that sequester and store carbon from the atmosphere.FedEx is a founding member of Third Derivative,RMIs global climate technology accelerator.Third Derivative provides start-ups access to expertise,capital,and industry partn

308、ers needed to bring climate-focused technologies to market faster.Since launching in 2020,Third Derivatives portfolio of over 150 startups have collectively generated more than$1 billion of investment from cleantech finance in a variety of major emissions sectors,including buildings,industry,electri

309、city,transportation,carbon markets,and the circular economy.The Mobility and Accessibility Program(MAP),a long-term collaboration between FedEx and World Resources Institute(WRI)Ross Center for Sustainable Cities,is transforming public transportation in Brazil,China,India,and Mexico.Since 2010,MAP h

310、as impacted more than 18 million people and avoided over 1 MTCO2e.FedEx has not only provided funding since 2010,but also provided technical expertise,service experience,and marketing resources to the WRI team,with more than 100 FedEx team members sharing knowledge since 2012.In FY 2022,FedEx joined

311、 TPG Rise Climates$7.3 billion inaugural investor coalition fund,which is deploying capital through growth-stage investments in innovative climate solutions.For more information on FedEx sustainability efforts worldwide,see the 2023 ESG Report.2023 Economic Impact Report|FedEx 38Endnotes:Disclaimer

312、The information and opinions contained in this FedEx Global Economic Impact Report(the“Report”)are provided as of May 31,2023,the end of the FedEx 2023 fiscal year,unless otherwise noted,and are subject to change without notice.None of FedEx or any of its subsidiaries or affiliates assume any respon

313、sibility or obligation to update or revise any such statements,regardless of whether those statements are affected by the results of new information,future events,or otherwise.This Report is intended to provide non-exhaustive,general information.This Report represents current FedEx policy and intent

314、 and is not intended to,nor can it be relied upon,to create legal relations,rights,or obligations.This Report contains and incorporates by reference certain information prepared by Dun&Bradstreet(“D&B”)regarding the direct and indirect economic impacts of FedEx operations,as well as the performance

315、of economies generally.No representation,warranty,or undertaking,express or implied,is made and no responsibility or liability is accepted by FedEx as to the fairness,accuracy,reasonableness,or completeness of such information prepared by D&B.Certain statements in this Report,including those precede

316、d by,followed by,or that include the words“will,”“may,”“could,”“would,”“should,”“believes,”“expects,”“forecasts,”“anticipates,”“plans,”“estimates,”“targets,”“projects,”“intends,”or similar expressions are“forward-looking”statements.Such forward-looking statements are subject to risks,uncertainties,a

317、nd other factors which could cause actual results to differ materially from historical experience or from future results expressed or implied by such forward-looking statements.Potential risks and uncertainties include,but are not limited to,our ability to achieve or demonstrate progress on our goal

318、 of carbon-neutral operations by 2040 and other factors and uncertainties discussed in FedExs and its subsidiaries press releases and FedExs filings with the Securities and Exchange Commission.Actual results may differ materially from those contemplated(expressed or implied)by such forward-looking s

319、tatements.Any such forward-looking statements in this Report speak only as of the date of this Report,and FedEx does not undertake or assume any obligation to update forward-looking statements.This Report sets out FedExs intended policy and actions in respect of capital investments and other strateg

320、ic initiatives.However,nothing in this Report is intended to modify or add to any covenant or other contractual obligation undertaken by FedEx in connection with such strategic initiatives.This Report does not create any legally enforceable obligations against FedEx.Therefore,it will not be an event

321、 of default or breach of contractual obligations under the terms and conditions of any contract to which FedEx is party if FedEx fails to adhere to the goals,projections,and initiatives set forth in this Report,including by failing to fund or complete certain projects.In addition,it should be noted

322、that all of the expected benefits as described in this Report may not be achieved.Future developments could limit the ability to achieve some or all of the expected benefits of these initiatives,including the funding and completion of certain projects.i https:/www.worldbank.org/en/topic/smefinance2023 Economic Impact Report|FedEx 382023 Economic Impact Report|FedEx 39FedEx CorporationTo learn more,visit us at