FedEx plans $10 million expansion in Sherman - KTEN.com - No One Gets You Closer

FedEx plans $10 million expansion in Sherman

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FedEx is expanding its operations in Sherman. (KTEN) FedEx is expanding its operations in Sherman. (KTEN)

SHERMAN, Texas -- Economic growth and more jobs are coming to Sherman as FedEx grows in Grayson County.

John Plotnik, president of the Sherman Economic Development Corporation, showed us a map. "Right here is where they're going to be going in Progress Park II," he said. "It's part of a 117-acre site."

FedEx Freight plans a $10 million expansion at the site south of FM 1417.

"What we've seen in Sherman over the past couple of years is a cycle of growth," said city spokesman Nate Strauch. "When the population expands, the jobs need to expand... and when the jobs expand, the population needs to expand."

SEDCO approved the sale of 22.5 acres in Progress Park, and FedEx is planning to purchase it for $45,000 an acre.

"Which is appropriate for this type of site, which is already finished out and ready for new companies," Plotnik explained. 

FedEx says the expansion will create 45 new jobs.

"It's indicative of the growth that we've experienced in our population base over the past couple of years," Strauch said.

SEDCO also said they are hoping to announce additional expansion projects in the near future. 

FedEx is expanding even though the company is not eligible for economic incentives.

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