Amazon’s market value exceeds $2 trillion for the first time
The market capitalization of Amazon.com Inc. exceeded the $2 trillion mark for the first time in afternoon trading on Wednesday.
Scripps News
Amazon is expanding in Mississippi.
The company this week announced plans to expand its investments in the Magnolia State and plans to open a new delivery station in Lee County, according to the Lee County Community Development Foundation.
This new facility will be approximately 1,000 square feet and will be located in the Turner Industrial Park in Saltillo, south of Tupelo, in Lee County. Plans to open this delivery station are still in the very early stages, with renovations to the existing building expected to begin in the coming weeks.
“This last-mile facility will allow us to better serve customers in Lee County and the surrounding areas,” Jessica Breaux, senior manager of economic development at Amazon, said in a statement. “We are grateful for our partnership with the Community Development Foundation and Lee County. We look forward to sharing more details about this facility in the future.”
Amazon Web Services made big headlines in January when it announced it would occupy two locations in Madison County for the historic expansion of hyperscale development centers.
These facilities enable companies like Amazon, Google and Microsoft to use their computing power to deliver critical services to customers around the world.
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Mississippi lawmakers have passed a $259 million incentive package for Amazon Web Services’ $10 billion project in Canton and Madison County.
Governor Tate Reeves said the project represents the largest corporate investment in the state’s history. Amazon Web Services will build two sites, one with 927 acres and one with 786 acres for the two hyperscale data centers.
The new last-mile facility in Lee County will support the last mile of the Amazon fulfillment process by enabling rapid, daily delivery directly to customers’ doorsteps, the CDF statement said. Packages will be transported from Amazon fulfillment and sortation centers to delivery stations, and then associates will process customer packages for last-mile delivery. Most associates in customer fulfillment and transportation earn between $17 and $28 per hour.
“We are excited to welcome Amazon to Lee County,” said Wesley Webb, president of the Lee County Board of Supervisors, in a press release. “Amazon’s presence in our community will help attract other major brands to locate here. This will also increase their capacity to serve the region. We especially want to thank our partners at the Tennessee Valley Authority (TVA) and the Appalachian Regional Commission (ARC) who have helped us and supported us in product development for our business recruitment efforts.”
Ross Reilly can be reached via email at [email protected] or 601-573-2952. You can follow him on Twitter at @GreenOkra1.
