NORFOLK, Va., Jan. 26, 2017 /PRNewswire/ -- Norfolk Southern (NYSE: NSC) assisted 71 industries in locating or expanding their businesses along its rail lines in 2016.
The 58 new and 13 expanded industries represent an investment of $4.0 billion by Norfolk Southern customers and are expected to create more than 4,600 new jobs in the railroad's service area, generating more than 50,000 carloads of new rail traffic annually.
"We were pleased to see a steady stream of manufacturing projects and a markedly stronger portfolio overall near the end of the year, and that is an encouraging indicator for activity in the coming year," said Jason Reiner, assistant vice president industrial development. Sixteen manufacturing-related projects contributed nearly $2 billion in new investment by customers and 3,000 new jobs during 2016."
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 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 945 facilities representing an investment of over $60 billion and creating more than 43,000 direct 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.
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SOURCE Norfolk Southern Corporation