85 F
Monday, April 15, 2024

FedEx seeking Ocala council’s approval amidst corporate restructuring

FedEx is seeking approval from Ocala City Council members to amend an economic agreement it made over a decade ago in Marion County, where it has created over 1,000 full-time jobs with an annual payroll of over $33 million.

The request is part of the Ocala City Council’s consent agenda during its next meeting on Tuesday, April 2, at 4 p.m.

FedEx is seeking to amend the assignment of an Economic Development Incentive Grant Agreement between the organization, the city, and the county.

That agreement was made in 2013 and in 2016, FedEx Ground’s facility at 3100 NW 35th Avenue Road was completed.

The company seeks to assign the “rights and obligations under” the agreement to Federal Express Corporation, FedEx’s consolidated entity.

FedEx Ground Distribution Center in Ocala
FedEx Ground in Ocala. (Photo: November 2021)

The move is part of a corporate consolidation that the company first announced in April 2023.

By June, the company says it hopes to “consolidate its operating companies into one organization” to create efficiencies “to meet the evolving needs of customers and ultimately build a stronger, more profitable enterprise.”

According to the statement, the company is consolidating FedEx Express, FedEx Ground, FedEx Services, and other FedEx companies into Federal Express Corporation.

As part of FedEx’s agreement with the city and county, FedEx was “required to hire and maintain at least 165 full-time employees at the facility.”

According to county records, the last annual report filed by FedEx shows that in 2023, the company provided “approximately 1,074 full time employees with an annual payroll totaling approximately $33.8 million.”

The Ocala City Council regularly meets the first and third Tuesday of every at 4 p.m. at Ocala City Hall (110 SE Watula Avenue).