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FedEx, the delivery service company based out of Memphis, Tennessee, is considering a $40.6M development project on Lakeshore Parkway. This is what we know so far.
A few weeks ago, we started hearing rumors about Project Fish—a mysterious, multi-million dollar development coming to Lakeshore Parkway. And of course, we were interested to learn more.
Now, we have some new details. Project Fish is a proposed $40.6M development to create a 300,000-square-foot facility for FedEx, right over in Bessemer. Located at 3801 and 4101 Lakeshore Parkway, the undeveloped property is currently owned by U.S. Steel Corp.
Currently, FedEx and the lead developer are in talks with local government to work out any kinks in the project. If the project goes through, FedEx and the developer will need to spend $26.5M to acquire the land, then an additional $14.1M on the facility itself. Roughly 87% of that investment would be spent in Birmingham, and the remaining 13% in Bessemer.
What Could This Mean for Birmingham?
In addition to the money spent on the development in Birmingham, Project Fish could be very beneficial to The Magic City. If Project Fish comes through, FedEx will reassign 61 employees from its existing Birmingham facility. And then, over the next three years, FedEx would end up hiring an additional 27 full-time and 197 part-time employees to the tune of $6 million a year on payroll.
In order to continue, Birmingham’s Industrial Development Board plans to vote on potential tax abatements for the project at its July 6 meeting.
Project Fish is not the only major industrial project happening in the Lakeshore Parkway/Bessemer area. Carvana recently chose Bessemer as the site for their new SouthEastern distribution center, following the brand-spankin’-new Amazon Fulfillment Center, which opened in April. Back in 2017, Milo’s Tea Company opened a new facility in Bessemer. Similarly, BLOX, based out of the old Pullman Standard train car factory in Bessemer, is developing modular buildings that can be assembled on-site.