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Employment Concentration By Metro: Memphis

Employment Concentration By Metro: Memphis

Seeing as Memphis is a major transportation hub, it is no wonder Memphis’ two largest employers are under the Transportation and Utilities category:

  • FedEx: In 1973, FedEx moved its corporate headquarters from Little Rock, Arkansas to Memphis. Memphis was chosen before of its geographical location, and also, quite surprisingly, because of its weather. Let me explain – Memphis’ weather is rarely a problem and therefore doesn’t cause closures at the airport. FedEx is currently Memphis’ largest employer, with 32,000 employees. FedEx is listed on the Fortune 500 list, ranked 65th as of 2015.
  • International Paper: This is Memphis’ second-largest employer in the region. International paper relocated is global headquarters to Memphis in 2005. This company is nationally recognized as having global business in paper distribution, packaging, and forest products, including building materials. In the Memphis area, International Paper employs nearly 2,300 people. International Paper is also a Fortune 500 company, ranking 114th on the list as of 2015.

Memphis

Moreover, not only is Memphis home to the FedEx World Hub, it also serves as a major hub for UPS, the U.S. Postal Service, and the Air National Guard.

Just a few more rankings/fun facts involving Memphis’ Transportation and Logistics segment:

  • In 2014 Memphis was ranked as the top “Logistics Leader” for air cargo by Business Facilities magazines.
  • Memphis has ranked among the top three exporters of paper and paper products since 2008. Specifically in 2014, over $1.3 billion paper products were exported out of Memphis.
  • In 2012, Memphis took the title of “Best Logistics Infrastructure” given by Global Trade

Runners Up

There are a few more metros that should be mentioned that have high exposure to the Accommodation and Food Services industry. Keep in mind, though, that there is at least a 14-point difference between the percentage of Accommodation and Food Services industry workers in these metros compared to Las Vegas. These metros include:

  1. Fort Worth: Approximately 7.5% of the workforce here (or 74,600 individuals) are employed in the Transportation and Utilities industry. AMR/American Airlines at DFW International Airport is Fort Worth’s largest employer, as 24,000 people work for the company.
  2. Riverside/San Bernardino/Ontario: Approximately 6.9% of the workforce (or 92,100 individuals) are employed under the Transportation and Utilities umbrella. Amazon has three fulfillment centers in the area: a 950,000 SF fulfillment center in San Bernardino, a 1.2 million SF facilities in Moreno Valley, which has at least 1,000 employees, and a 700,000 SF center in the Redlands.
  3. Indianapolis: About 6.4% (or 64,100 people) of the workforce are employed in the Transportation and Utilities industry. The cargo airline, FedEx Express, operates a national hub here, which is the second-largest hub operation worldwide, only behind the Superhub in Memphis.
  4. Miami: Around 5.9% of the workforce in Miami (or 66,400 people) work in the Transportation and Utilities industry. Two of the top five employers in Miami are in the Transportation and Utilities segment: American Airlines (11,031 employees) and Florida Power & Light Company (3,011 employees). Also making the top 20: AAR Corp. – Federal Express (1,161 employees), Aircraft Services (1,160 employees), Ryder Integrated Logistics (1,106 employees), and LATAM Airlines/Klan Cargo (900 employees).

(Image Source: Shutterstock)

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