Great expectations.

• Position: Triad

Landing FedEx Corp.'s $300 million air-cargo hub at Piedmont Triad International Airport was supposed to deliver a windfall to the region. A report released in 1998 and commissioned by the Greensboro Area Chamber of Commerce estimated a $2.4 billion economic impact and 750 jobs the first year, reaching 1,500 when the 470,000-square-foot hub was at full capacity. A second report, released a year later, lowered the impact to $1.7 billion but had similar job projections.

But those employment predictions have fallen far short. In August 2011, a spokesman for the Memphis, Tenn.-based company said there were about 250 employees at the air-cargo hub, which opened in 2009--nine years late. Not only is the economic malaise of the last few years to blame, says Dan Lynch, president of Greensboro Economic Development Alliance, but "it turned out to be a much more automated operation because of state-of-the-art sorting equipment." There is also less demand for expensive overnight shipping with documents sent digitally.

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On the other hand, FedEx Ground, which opened a $100 million distribution center in Guilford County a little more than a year ago, is thriving. The 400,000-square-foot hub started with about 550 employees and 200 contractors. "The ground division is actually growing faster because they're delivering all these online purchases...