One of the fastest growing freight brokerage companies plans to nearly triple its Tennessee workforce by investing $37.9 million to expand its headquarters in Knoxville.
Axle Logistics, a third-party logistics provider started in 2012 by two University of Tennessee graduates, announced plans Tuesday to add 651 more employees over the next five years in East Tennessee. Axle currently has an office in Chattanooga and its headquarters in Knoxville where the company is planing to construct an 85,000-square-foot facility adjacent to its existing operations on North Central Street.
"Axle Logistics is committed to creating more jobs while doing our part to retain the country's best and brightest right here in East Tennessee," company president Shawn McLeod said Tuesday in an announcement of the company expansion.
In the most recent Inc. magazine list of the 5,000 fastest growing companies, Axle Logistics ranked No. 847 with a three-year growth rate in revenues of 698%.
A non-asset-based, third-party logistics provider, Axle Logistics serves a variety of customers throughout North America.
"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," Tennessee Gov. Bill Lee said in a statement Tuesday.
Knoxville Mayor Indya Kincannon said Axle Logistics "has done an outstanding job renovating and breathing new life and beauty into an abandoned car dealership that had sat vacant for decades.
"Axle Logistics is the kind of company we want in Knoxville," she said in a statement. "They've been recognized as a top workplace, and this expansion represents hundreds of new high-paying jobs."
— Compiled by Dave Flessner