The much-hyped Amazon (NASDAQ: AMZN) air hub in northern Kentucky is finally moving forward following a formal groundbreaking at the site at the Cincinnati/Northern Kentucky International Airport in Hebron, Kentucky on May 14, 2019.
The hub will add more than 2,000 jobs to the area and contribute over $1 billion in economic impact, the company said. The hub will include its own ramp tower, onsite facilities for sortation and ultimately, space for up to 100 Prime Air aircraft.
“Our new Amazon Air hub, opening in 2021, is part of our continued investment in Prime to ensure we have the capacity required for continued outstanding service for our customers,” said Sarah Rhoads, director, Amazon Air. “We’re proud to call Kentucky home for our air hub, creating more than 2,000 jobs in this fantastic community.”
Amazon has 14 fulfillment and sortation centers in Kentucky, a customer service center and two Whole Foods Market stores.
“The Commonwealth of Kentucky is thrilled to celebrate this historic day, as Amazon officially breaks ground on its $1 billion-plus Amazon Air Hub,” said Kentucky Governor Matt Bevin. “This massive project at the Cincinnati/Northern Kentucky International Airport will be revolutionary for the region’s workforce and for our state’s overall economy. We are grateful for Amazon’s long-term commitment to Kentucky, and we are proud to see this momentous new endeavor take flight.”
Did you know?
Class 8 used-truck volumes fell 5 percent month-over-month in April and are down 16 percent year-to-date, according to preliminary data compiled by ACT Research.
“Today’s announcement demonstrates Werner’s commitment to returning capital and creating value for our shareholders through our long history of dividends and stock repurchases. Our strong balance sheet and new financing arrangements provide flexibility to allow us to continue to reinvest in our business and return capital to further drive shareholder value.”
-Derek J. Leathers, Werner’s president and CEO, announcing a special $3.75 per common share cash dividend
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CNBC published a story this morning that highlighted its Disruptor 50; 50 companies poised to disrupt traditional industries. Accompanying the list is an article that suggests the next Uber will come from the trucking and shipping spaces, and it notes Convoy and Flexport as the two most likely to do that. It’s no wonder that CNBC is looking toward the freight space for the next big thing, with more than $1.6 billion having been invested in the space in just the first quarter of this year. Clearly, investors are on the FreightTech bandwagon, and now the mainstream media is as well.
Hammer down everyone!