Amazon.com (AMZN, -0.83%) plans to invest $1.49 billion to build a large air cargo hub in northern Kentucky, state officials said on Tuesday, stoking expectations it may one day opt to directly compete with FedEx (FDX, -2.14%) and United Parcel Service (UPS, -6.75%).
The world’s biggest online retailer has agreed to a 50-year lease for about 900 acres of property from Cincinnati/Northern Kentucky International Airport – close in size to the global hubs of top cargo airlines.
