Norfolk Southern facilitated $4.2 billion in industrial investment along rail lines in 2015
NORFOLK, Va., Feb. 4, 2016 – Norfolk Southern assisted 93 industries in locating or expanding their businesses along its rail lines in 2015.
The 61 new and 32 expanded
industries represent an investment of $4.2 billion by NS customers and
are expected to create 6,200 new jobs in the railroad's territory,
generating more than 85,000 carloads of new rail traffic annually.
“While the energy sector has been
severely impacted by the drop in commodity prices, this sector --
including alternative energy production -- still accounted for nearly 20
percent of the projects that started operations this year,” said Jason
Reiner, assistant vice president industrial development. “However, the
largest impact to our communities was the strong showing in
manufacturing, accounting for $3.7 billion in new investment and 5,600
new jobs. Renewed growth in the automotive industry was the largest
contributor to this success. We expect to see continued growth in
manufacturing in 2016 as projects currently in development begin full
operation.”
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, NS’ Industrial Development Department
has participated in the location or expansion of 989 facilities
representing an investment of nearly $60 billion and creating more than
42,000 new 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
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