Norfolk
Southern facilitates $5.7 billion in industrial investment along rail lines in
2014
NORFOLK, Va.,
Jan. 7, 2015 -- Norfolk Southern assisted 94 industries in
locating or expanding their businesses along its rail lines in 2014.
The 72 new and 22 expanded industries represent an
investment of $5.7 billion by Norfolk Southern customers and are expected to
create more than 4,420 new jobs in the railroad's territory, generating more
than 205,000 carloads of new rail traffic annually.
Norfolk Southern assisted state and local government
and economic development officials throughout 18 states in helping customers
identify ideal locations for the projects.
“The energy sector continued to be a major driver of
industrial development projects in 2014, and we began to see the return of more
traditional industrial projects such as steel mills, auto assembly plants, tire
manufacturers, and food processing facilities,” said Jason Reiner, assistant
vice president industrial development. “We expect continued development in the
energy sector, as well as growing activity in manufacturing, in 2015. We will
continue to work closely with the communities we serve to ensure that high
quality industrial sites are identified and ready to be presented to prospective
industrial clients. We have the experience and resources available to support
our communities in their efforts to compete for new manufacturing and
distribution projects.”
Norfolk Southern works with state and local economic
development authorities on projects involving site location and development of
infrastructure to connect customers to its rail system and provides free and
confidential plant location services, including industrial park planning, site
layout, track design, and supply chain analysis. During the past 10 years,
Norfolk Southern's Industrial
Development Department has participated in the location or
expansion of 1,017 facilities, representing an investment of $57 billion and
creating more than 44,000 customer jobs in the territory served by the railroad.
About
Norfolk Southern
Norfolk Southern
Corporation
(NYSE: NSC) is one of the nation’s premier transportation companies. Its Norfolk
Southern Railway Company subsidiary operates approximately 20,000
route
miles
in 22 states and the District of Columbia, serves every major container port in
the eastern United States, and provides efficient connections to other rail
carriers. Norfolk Southern operates the most extensive intermodal network in the
East and is a major transporter of coal, automotive, and industrial
products.
Forward-looking
statements
This
news release contains forward-looking statements that may be identified by the
use of words like “believe,” “expect,” “anticipate,” “estimate,” “plan,”
“consider,” “project,” and similar references to the future. Forward-looking
statements reflect our good-faith evaluation of information currently available.
These forward-looking statements are subject to a number of risks and
uncertainties, and our actual results may differ materially from those
projected. Please refer to our annual and quarterly reports filed with the SEC
for a full discussion of those risks and uncertainties we view as most
important. Forward-looking statements are not, and should not be relied upon as,
a guarantee of future performance or results, nor will they necessarily prove to
be accurate indications of the times at or by which any such performance or
results will be achieved. As a result, actual outcomes and results may differ
materially from those expressed in forward-looking statements. We undertake no
obligation to update or revise forward-looking
statements.
Media
Inquiries:
Frank Brown, 757-629-2710 (fsbrown@nscorp.com)
Investor Inquiries:
Katie Cook, 757-629-2861 (InvestorRelations@nscorp.com)