Amazon building its own air cargo hub for $1.49 billion

Amazon.com Inc plans to invest $1.49 billion to build a large air cargo hub in northern Kentucky, state officials said on Tuesday, Business Insider reports, citing officials.

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.

Amazon is handling more shipping in-house so it can deliver packages to customers faster, as well as cut costs and uncertainty associated with relying on third parties. It has said its moves are designed to supplement, not replace cargo carriers.