Norfolk
Southern facilitated over $1 billion in industrial
development along rail lines in 2017
NORFOLK,
Va., Jan. 11, 2018 – Norfolk Southern assisted 75
industries in locating or expanding their business
operations along its rail lines in 2017.
The
54 new and 21 expanded industries across 17 states represent
an investment of $1.1 billion by Norfolk Southern customers.
This economic development is expected to create nearly 2,000
new customer jobs in the railroad's service area and
generate over 147,000 carloads of new rail traffic annually.
“The strong industrial development activity
in 2017 is an indication of renewed confidence on the part of
industry and consumers, as well as continued demand for
freight rail service,” said Jason Reiner, assistant vice
president industrial development. “The results include a mix
of manufacturing, energy, and foreign-trade related business,
and we believe we have an encouraging pipeline for growth
entering the new year.”
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. Norfolk Southern provides free and confidential
facility 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 922 facilities representing private
investment of over $60 billion and creating nearly 41,000
direct new customer jobs in territory the railroad serves.
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 19,500
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:
Jon
Glass,
757-629-2789 (jonathan.glass@nscorp.com)
Investor Inquiries:
Clay Moore, 757-629-2861 (clay.moore@nscorp.com)