Norfolk Facilitates $3.1bn Investment Along Rail Lines
Norfolk Southern (Norfolk), a transportation company operating intermodal network in East and rail carrier of metals and automotive products in North America, has participated in the location of 70 new industries and the expansion of 23 existing industries along its rail lines in 2009.
According to Norfolk, the new plants and expansions has represented an investment of around $3.1bn by it's customers and are expected to create 3,000 jobs in the railroad's territory, generating around 138,500 carloads of new rail traffic annually.
The company claims to have assisted state and local government and economic development officials throughout 19 states in helping customers identify ideal locations for new and expanded facilities. In addition, the balance of other projects secured during 2009 was distributed among several of the product areas it serves.
Norfolk said that it 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 logistics assistance.
Newell Baker, assistant vice president of industrial development at Norfolk Southern, said: “The energy sector anchored our results during 2009. Our group assisted in the location or expansion of 24 energy related facilities in 12 states across our service area. Ethanol production and distribution accounted for the lion's share of energy projects, with 11 new and expanded facilities that began to receive NS rail service in 2009.”
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