Freight rail vital to economic prosperity, Norfolk Southern CEO Moorman tells U.S. Chamber of Commerce
NORFOLK, Va., Feb. 20, 2014 /PRNewswire/ -- Norfolk Southern CEO Wick Moorman today said freight railroads are "essential to driving America's continued economic recovery."
Speaking in Washington to a U.S. Chamber of Commerce meeting on infrastructure, Moorman said railroad improvements in technology, service, and capacity "provide America with a key competitive advantage in the marketplace and serve to bolster economic prosperity."
Moorman pointed to resurgence in domestic manufacturing and said, "The freight rail industry will be there to assist companies as they seek to take advantage of these favorable trends."
He said a balanced regulatory environment is key to the railroads' ability to continue earning the capital necessary to invest in new markets. "Railroads are an essential partner to government and business in rebuilding America and positioning it for a prosperous future," he said, "but we can reach that goal only if we can continue to grow and reinvest."
Moorman said, "If freight railroads do our job well, the economy grows, and America ultimately prospers – a win for all of us."
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.
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SOURCE Norfolk Southern Corporation