Norfolk Southern facilitates $2.3 billion in industrial investment along rail lines in 2013
NORFOLK, Va., Jan. 7, 2014 /PRNewswire/ -- Norfolk Southern Corporation (NYSE: NSC) participated in the location of 67 new industries and the expansion of 25 existing industries along its rail lines in 2013.
New plants and expansions representing an investment of $2.3 billion by Norfolk Southern customers are expected to create more than 3,100 new jobs in the railroad's territory, eventually generating more than 136,000 carloads of new rail traffic annually.
Norfolk Southern assisted state and local government and economic development officials throughout 14 states in helping customers identify ideal locations for new and expanded facilities.
"The energy sector has been a significant story for several years and 2013 was no different," said Jason Reiner, assistant vice president industrial development. "Norfolk Southern assisted in the location or expansion of 11 energy-related facilities across our service area. Crude oil transportation and support for natural gas exploration and production accounted for the lion's share of energy projects, providing 65% of the new rail traffic reported. The energy sector will continue to provide significant growth opportunities in 2014."
The balance of other projects secured during 2013 was distributed among several of the broad product areas Norfolk Southern serves with notable representation in metals, agriculture and automotive sectors.
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 management. During the past 10 years, Norfolk Southern's Industrial Development Department has participated in the location or expansion of 1,024 facilities, representing an investment of $29 billion and creating more than 44,000 customer jobs in the territory served by the railroad.
Norfolk Southern Corporation 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