Canada (English)

New Global Report Demonstrates FedEx Economic Impact

The company’s supply chain saw ripple effects around the world, with approximately 100,000 direct suppliers.

Editor Note:

FedEx updated this release on September 21, 2023, to include corrected figures for the number of direct vendors in the FedEx supply chain and the total employment and revenue of direct suppliers analyzed by Dun & Bradstreet in fiscal year 2022. [The previous figures included approximately four years’ worth of fiscal year data.]

Mississauga, ON October 26, 2022 - FedEx Corp. (NYSE: FDX) today released the findings from its 2022 report that analyzed the company’s impact on the global economy with key regional and market-specific analyses from around the world at the conclusion of its 2022 fiscal year (FY 2022). The report, produced in consultation with Dun & Bradstreet (NYSE: DNB), a leading global provider of business decisioning data and analytics, for the first time analyzed the impact FedEx has on economies around the world. Over the past 49 years, FedEx has expanded its services to more than 220 countries and territories and invested in a global network enabling businesses of all sizes to access and grow the global economy.

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The report found that FedEx played an integral role in helping businesses recover from the pandemic while overcoming strained supply chains and economic challenges. With nearly 550,000 employees worldwide, FedEx moved an average of 16 million shipments each day through its 5,000 facilities in FY 2022. The company’s network optimization and investments improved efficiency and capacity for FedEx customers.

“All around the world, FedEx helped individuals, businesses, and communities emerge from the pandemic by moving goods and providing services that connect humankind and power the global economy,” said Raj Subramaniam, President and CEO, FedEx Corporation. “The report illustrates the ongoing and important work we do every day, including supporting small- and medium-sized businesses which are the backbone of our local communities. We call this, the ‘FedEx Effect.’”

Measuring the FedEx Effect:

The shipping and logistics company plays a role in fueling innovation, creating, and supporting local jobs, as well as helping lift individuals and their communities regionally and in major markets around the world.

  • In FY 2022, the FedEx global supply chain included roughly 100,000 direct vendors. Dun & Bradstreet analyzed approximately 80,000 of these businesses and found that they create significant economic activity within their local or regional markets collectively and employ more than 28 million individuals.
  • FedEx global economic activity supported 193,000 additional jobs beyond the FedEx worldwide employee base in FY 2022, which is 20,000 more jobs than FedEx indirectly supported in FY 2021.
  • Small businesses made up 88% of the FedEx supply chain, and more than half of the FedEx supply chain spend in each region went to small businesses—which collectively supported roughly 810,000 small business jobs around the world.
  • In FY 2022, FedEx invested $6.8 billion—a 15% increase over FY 2021—in facility improvements, network optimization and infrastructure improvements, which correlated to direct economic growth in the respective markets.

Canada Impact

For the first time, the Greater Toronto Area was included in the FedEx Effect Report. Canada’s Golden Horseshoe is home to the headquarters for FedEx Express Canada, as well as a major shipping hub at Toronto’s Lester B. Pearson International Airport. The 342,000-square-foot facility handles approximately 140,000 packages per day and connects Canada with the rest of the world through 100 weekly international flights operating seven days a week. Since June 2020, FedEx Express Canada has increased its workforce from 7,100 to over 12,500 Canadians. The company has expanded to 67 operating facilities with the addition of nearly 300,000 square feet of new sort capacity space in key markets across Canada. FedEx Express Canada added an additional aircraft to bring its total domestic fleet size to 22 airframes. The FedEx Express Canada domestic air network relies on a mix of Boeing 757s, C-208s, and ATR-72s.

Further, FedEx Express opened a new small-package sorting facility in the Toronto area which is the fastest FedEx Express facility in Canada. The multimillion-dollar facility can sort up to 20,000 small e-commerce shipments an hour, 24 hours a day, seven days a week. Smaller e-commerce shipments have surged in recent years, and this facility helps to alleviate shipping demands from the company’s existing sorting hubs located across the country.

“Now in our 35th year of operation in Canada, our commitment to our country and its people is stronger than ever,” said Lisa Lisson, president of FedEx Express Canada. “We’ve been at the forefront of connecting all three of our country’s coasts to the global economy. From the delivery of pandas to zoos across Canada, to emergency disaster assistance, to our overwhelmingly successful COVID-19 vaccine rollout, we’ve been there for Canada when needed. This is our home, and we look forward to contributing any way we can to the communities that we serve.”

Giving Impact

The report shows how FedEx contributes to the communities where its team members live and work through charitable contributions and direct efforts to deliver a more sustainable future. In FY 2022, FedEx donated over $86 million to charities and local non-profits around the world. The company also served as a critical conduit for food and aid deliveries and donations to Ukraine and Shanghai, among others. In Canada alone, FedEx provided relief supplies, funding, and transportation in support of more than 70 organizations across the country during the pandemic. And on top of its corporate giving programs, the company has donated more than US $400,000 to 450+ Canadian charities selected by its team members through its FedEx Cares employee fund since 2014..

The report also shows how the company is committed to connecting the world responsibly, through its stated goal of carbon-neutral operations by 2040 and pursuit of investments in renewable energy to power its operations. This includes Canada’s fleet of electric cargo bicycles – the largest of any country in the FedEx global network.

Read the full FedEx Economic Impact Report and explore the FedEx Effect in communities and regions around the world at fedex.com/economicimpact.

About FedEx

FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenue of $95 billion, the company offers integrated business solutions through operating companies competing collectively, operating collaboratively and innovating digitally under the respected FedEx brand. Consistently ranked among the world’s most admired and trusted employers, FedEx inspires its nearly 550,000 employees to remain focused on safety, the highest ethical and professional standards and the needs of their customers and communities. FedEx is committed to connecting people and possibilities around the world responsibly and resourcefully, with a goal to achieve carbon-neutral operations by 2040. To learn more, please visit fedex.com/about.

Contact:

James Anderson

Communications Advisor

FedEx Express Canada

jcanderson@fedex.com