A logistics company located in Knoxville plans to expand and add 650 employment opportunities, a news release from the Tennessee Department of Economic and Community Development (TNEDC) says.
According to the release, Axle Logistics will invest $37.9 million to expand logistics operations at its Knoxville headquarters. It will reportedly construct an 85,000-square-foot facility adjacent to its existing facility in order to “better meet the ongoing growth it has experienced since its founding in 2012.”
“Axle Logistics is a non-asset based, third-party logistics (3PL) company with a focus on facilitating safe, reliable, advanced logistics services – Truckload, LTL, Intermodal, and Warehousing – to a wide variety of customers throughout the continental U.S., Canada, and Mexico,” the company’s website says.
The announcement was met with applause from Tennessee government officials.
“I congratulate Axle Logistics on this expansion and thank the company for creating more than 650 new jobs in Knoxville,” said TNEDC Commissioner Stuart C. McWhorter. “This region is equipped with a skilled workforce, the right educational assets and leaders that ensure Knoxville and Knox County prosper, which in turn, will also ensure this company’s success.”
“Creating greater opportunity for Tennesseans is one of my top priorities, and I thank Axle Logistics for bringing hundreds of new jobs to the Greater Knoxville Area,” said Gov. Bill Lee (R). “Our state’s economy and quality of life will increase in the years to come because of today’s announcement.”
Axle also has a satellite office in Chattanooga.
The Tennessee economy has continued to thrive, despite rising costs and inflation at the national level.
The state’s unemployment rate continues to hover near all-time lows, as reported by The Tennessee Star.
“Data shows nonfarm employment decreased by 3,200 positions between July and August. The mining, logging, and construction sector saw the biggest drop in jobs. The professional and business services sector experienced the next biggest decline, followed by the information sector,” the Tennessee Department of Labor and Workforce Development (TDLWD) said in September.
“The year-to-year statistics show Tennessee employers added 57,900 new positions to their payrolls,” according to TDLWD. “The education and health services sector recorded the largest gains over the last 12 months. The leisure and hospitality sector and government sector had the next largest increases in employment.”
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Pete D’Abrosca is a reporter at The Tennessee Star and The Star News Network. Follow Pete on X / Twitter.
Photo “Axle Logistics Office” by TNECD.
How much in tax dollars did that cost we Tennessee taxpayers? A lot, I would bet.