Memphis remains the national leader in the supply chain and logistics industry, according to a Greater Memphis Chamber report.
The industry accounted for more than 3,600 companies with 119,000 employees in the Memphis area, according to the 2022 Greater Memphis Market Supply Chain & Logistics Industry Report.
“Memphis is the global logistics leader because of the four ‘Rs’: runway, river, road, and rail,” said Ted Townsend, president and CEO of the Chamber.
“We have the busiest cargo airport in the U.S. and second busiest in the world, the third busiest trucking corridor, five Class I railroads, and the fifth largest inland port in the U.S.,” Townsend said. “We are always open, always moving, 24/7, 365 days a year.”
The supply chain and logistics industry’s workforce has grown 25% over the past decade in the Memphis area, according to the report, created by the Greater Memphis Economic Research Group, or GMERG (pronounced g-merge).
The report also found that nearly 20% of the regional workforce moves goods between wholesale, transportation and warehousing.
The Chamber’s report also says Memphis has a higher concentration of Black talent in the industry than any other major metro as well as a higher concentration of female talent than the similarly sized peers, making the industry’s local workforce one of the most inclusive in the nation.
“One of the most positive trends for Memphis is that we are a national leader in welcoming diverse talent to our workforce,” said Tecora Murray, executive director of GMERG.
“We take pride in the fact that the supply chain and logistics industry in Greater Memphis has the highest concentration of professionals who identify as Black among all major metropolitan areas in the U.S,” Murray said. “Additionally, our city stands out among its peers with the largest concentration of female professionals in this industry, with females comprising 35% of the total workforce, surpassing the national average of 30.7%.”
Murray also said that professionals who identify as Black make up 50% of the workforce in Memphis’ supply chain and logistics industry, the highest concentration in the nation.The national average is 14.2%.
In addition to its double-digit growth over the past five years, the region is expected to add another 7,800 jobs in the next five years, according to the report.
This article was originally published at “dailymemphian.com“
