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ICYMI: FedEx CEO Raj Subramaniam Keynotes Signature ‘Infrastructure Week’ Event

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On Tuesday, May 14, FedEx President and Chief Executive Officer and Business Roundtable Infrastructure Committee Chair Raj Subramaniam delivered keynote remarks at United For Infrastructure’s signature “Infrastructure Week” event. Excerpts of his remarks are highlighted below.

On the importance of infrastructure to the U.S. economy:

“Reliable infrastructure helps keep critical supply chains moving.

“Infrastructure enabled FedEx to generate $8.7 billion dollars of indirect economic impact in communities across the U.S. in our previous fiscal year.

“Infrastructure helps BRT member companies support nearly one-quarter of the U.S. GDP.

“From my perspective representing the business community: safe roads, modern airports and maritime ports, and better rail infrastructure are essential for the efficient movement of people and goods.”

On improving the permitting process for infrastructure projects:

“It can still take as long as a decade or more to permit some projects. That’s simply unacceptable. We need a permitting process that is predictable and operates on a reliable and reasonable timeline.

“Despite recent legislation passed by Congress on a bipartisan basis, more work remains to be done so that the permitting process is not a roadblock to upgrading our nation’s infrastructure system at the pace we need.

“Policymakers across the aisle, from the Hill to the Administration, must work to address additional supply chain challenges.”

On the lack of a reliable funding mechanism to support the infrastructure of today and build the infrastructure of tomorrow:

“… [A]s the provisions in the Bipartisan Infrastructure Law begin to expire, government and industry must work together to find a sustainable funding solution — especially for our highway system and ports.

“Bringing the benefits of strong national infrastructure to life requires a reliable, predictable funding structure that has broad buy-in from all relevant constituencies.”

On FedEx’s infrastructure investments:

“FedEx understands first-hand how critical infrastructure is to the success of our business and the broader economy, which is why we have prioritized our own investment in key infrastructure.

“For example, we are in the midst of a multi-year, $1.5 billion investment to upgrade and modernize our Memphis, Tennessee air hub, as well as a $200 million project to upgrade airport infrastructure in Anchorage, Alaska.

“Projects like these, along with other contributions from the private and public sectors are critical for the country’s continued economic success.”

To learn more about the benefits of infrastructure investment and the need for permitting reform, click here.

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