FedEx Pushes for Infrastructure Fix as Trump Eyes Investment
- House Transportation Committee holds hearing on U.S. needs
- Growth of e-commerce seen putting demands on roads, airports
FedEx CEO: Infrastructure Needs to Be Updated, Expanded
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The growth of online sales that require delivery is putting enormous new demands on U.S. highways, airports and other infrastructure, which must be modernized with sustainable funding, FedEx Corp. Chairman and Chief Executive Officer Frederick Smith said.
E-commerce is projected to increase by 26 percent from last year to $2.4 trillion worldwide by 2018, adding to the need for infrastructure upgrades to improve a slowing economy, Smith said Wednesday in testimony before the U.S. House Transportation and Infrastructure Committee.