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6/20/2008



Rail News: Intermodal

CenterPoint Properties-commissioned study touts local benefits of proposed Chicago-area intermodal terminal/industrial park


A proposed intermodal terminal and industrial park in Joliet, Ill., would generate $765 million annually in economic output and provide up to 7,400 new full-time jobs for Will County, according to a study by research firm Cambridge Systematics Inc.

Real estate development firm CenterPoint Properties commissioned the study to provide an independent analysis of local benefits of CenterPoint Intermodal Center-Joliet (CIC-Joliet). Today, CenterPoint Properties will present plans for the terminal and industrial park to the Will County Center for Economic Development's board.

CIC-Joliet would join an existing intermodal terminal-anchored industrial park CenterPoint Properties developed in nearby Elwood, Ill. That park, which includes BNSF Railway Co.'s BNSF Logistics Park-Chicago, already has created at least 2,300 jobs and provided $158 million in added value for the county, CenterPoint Properties said.

"The study's findings reinforce our experience that the responsible development of intermodal rail and industrial parks benefits customers, boosts economies and enhances the quality of life in the communities where we're located," said CenterPoint Properties Chief Executive Officer Michael Mullen in a prepared statement.


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