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’s new warehouse on the site of the former East Towne Mall, construction of which began three years ago and has faced several delays, will open in time for the holiday season.
The warehouse is Amazon’s second facility in East Tennessee. A robotic fulfillment center opened in October at 4101 S. Singleton Station Road in Alcoa.
In 2021, Amazon announced plans to build the Knoxville distribution center, with an expected opening date in 2022. In anticipation of the opening date, new signs for the Amazon distribution center have now been put up around the site.
“We can confirm that our Knoxville delivery station is scheduled to be fully operational in time for the holidays this year,” Amazon spokesman Steve Kelly told Knox News. “The Knoxville area is a great place to live and work, and we are grateful to play a growing role in the community. We appreciate the support we have received from local partners and look forward to opening the facility soon.”
Job opening for Amazon center in Knoxville to be announced soon
Kelly said hiring numbers for the Knoxville location will be announced soon. The station will create hundreds of full- and part-time positions that pay at least $15 an hour and offer various benefits packages, according to a news release.
If you’re interested in working at Amazon, text TYSNOW to 77088 to stay updated on openings or visit amazon.com/jobswithus.
What role the new Amazon facility will play in delivery
The 20,000-square-foot Knoxville facility “will strengthen Amazon’s last-mile delivery capabilities to speed deliveries for customers in the Tennessee Valley,” according to the Knoxville Chamber of Commerce.
Amazon delivery stations serve as the last point in the distribution process before packages reach customers. The Knoxville delivery station will be equipped with Amazon’s electric vehicles. The company has committed to deploying 10,000 electric delivery vehicles in 2022 and now has more than 15,000 across the U.S.
Hillwood Enterprises, the developer of the warehouse project, began discussions with the Knoxville Chamber of Commerce in May 2020, which resulted in the Knoxville City Council approving the rezoning of the property for industrial use, allowing the project to move forward.
To expedite approval, Hillwood officials reduced the size of the proposed campus, which originally consisted of two buildings of 110,000 and 280,000 square feet. They also reduced the number of truck docks and committed to complying with noise and light regulations to address concerns raised by residents and local authorities.
The Knoxville warehouse is owned by ElmTree Funds, a St. Louis-based real estate company.
Angela Dennis is the race, justice and equity reporter for Knox News. Email: [email protected].
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