FedEx Trade Networks opening thanks to Haag Brown
JONESBORO, Ark. – The hard work of a Jonesboro-based commercial developer means some 50 new jobs will be created in Jonesboro with the opening of the first FedEx Trade Networks.
As first reported by Region 8 News, the new FedEx facility will be at 2005 E. Nettleton Avenue in Jonesboro. The deal was put together by Haag Brown Commercial Real Estate, principal Josh Brown detailed to NEA Report on Friday. FedEx left the space in 2016 after occupying the building for over 15 years, Brown said. They moved to Red Wolf Boulevard into a smaller space besides Schlotszkys. In 2017, Haag Brown listed the space for lease for Cathcart Rentals, LLC. Garrett McPherson was assigned the listing.
Haag Brown put together a re-development proposal to recruit new businesses looking for space, specifically targeting technology companies, Brown said.
“Garrett started negotiating with FedEx corporate on bringing a new concept to Jonesboro,’ Brown said. “The process took over six months.”
After much work, the deal was finalized in March, 2018. Brown said the commitment from FedEx equals 50 new jobs and hundreds of thousands of dollars worth of investment into real estate through a long term commitment to the building on Nettleton.
“In any city, an announcement of 50 new jobs is a big deal,” Brown said. “In this case, they are going to be employed right in the middle of the city. I think that provides an even bigger economic impact than if they were on the fringe of the city.”
In 2000, FedEx Corp. acquired TowerGroup and World Tariff, Ltd., to create FedEx Trade Networks, their corporate website describes. In 2002, TowerGroup was rebranded as FedEx Trade Networks Transport & Brokerage, Inc. In 2008, the company kicked off an aggressive expansion, opening offices around the globe. The new market reach gave FedEx Trade Networks access to nearly all of the world’s GDP by providing international air and ocean freight forwarding, customs brokerage, distribution and warehousing, and other value-added services.
A second subsidiary, FedEx Trade Networks Trade Services, Inc., was also formed in 2002. This division incorporated the duty and tax data services of WorldTariff with Trade & Customs Advisory Services, which is designed to streamline, automate, and simplify the international shipping process, as well as provide comprehensive trade information. FedEx Trade Networks was the first company to provide a duty and tax application on its website.