Customers Invest More Than $3.5 Billion on CSX Network in 2014
JACKSONVILLE, Fla., Jan. 5, 2015 /PRNewswire/ -- In 2014, CSX and its customers worked together on 107 projects to build or expand facilities on CSX's network and short line partners. CSX customers invested more than $3.5 billion in these projects, which are expected to generate nearly 5,800 new jobs in local communities and approximately 161,000 annual carloads of new business for CSX.
"In 2014, the bulk of customer investments along our network involved expanding and improving infrastructure for the energy sector. Low natural gas prices are also fueling more downstream projects in the chemicals and fertilizer arena, as well as other manufacturing industries," said Clark Robertson, assistant vice president – regional development. "We've seen investments from both domestic and multinational companies along our rail network, in part due to the CSX network's ability to reach nearly two-thirds of American consumers. We see strong indicators that this robust activity will continue into 2015."
Over the past decade, CSX customers invested more than $30 billion in rail-served facilities, creating more than 36,000 jobs across the company's 23-state network.
"State and local economic development agencies also play a pivotal role in supporting economic opportunities for new manufacturing facilities," Robertson said. "We appreciate their assistance in helping our customers access our 21,000 mile rail network and the benefits that freight rail provides, including improving their environmental footprint and helping to reduce wear and tear on public roads."
To further expand opportunities for customers to develop on the company's network, the CSX Select Site program certifies properties expressly intended for manufacturing uses. These properties meet rigorous permitting and certification criteria to ease the development process and promote efficient timelines for customers. More information on the CSX Select Site program is available at www.csxselectsite.com.
CSX also recently launched a new online platform to support industrial development across its network, www.csxindustrialdevelopment.com. The site allows potential and current customers to search by specific facility needs, and connects customers with CSX's Select Site program and proprietary Site Design services.
About CSX
CSX, based in Jacksonville, Florida, is a premier transportation company. It provides rail, intermodal and rail-to-truck transload services and solutions to customers across a broad array of markets, including energy, industrial, construction, agricultural, and consumer products. For more than 185 years, CSX has played a critical role in the nation's economic expansion and industrial development. Its network connects every major metropolitan area in the eastern United States, where nearly two-thirds of the nation's population resides. It also links more than 240 short-line railroads and more than 70 ocean, river and lake ports with major population centers and small farming towns alike. More information about CSX Corporation and its subsidiaries is available at www.csx.com. Like us on Facebook (http://www.facebook.com/OfficialCSX) and follow us on Twitter (http://twitter.com/CSX).
SOURCE CSX
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