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Monday, January 07, 2013
Norfolk Southern's industrial development efforts paid off in 2012
Last year, Norfolk Southern Corp. helped attract 64 new plants and expansions to 30 existing industrial facilities along its lines.
The industrial projects, which represent an investment of $2.1 billion by customers, are expected to create more than 6,100 jobs in the railroad's territory and generate more than 141,000 carloads of new traffic annually, NS officials said in a prepared statement.
The Class I works with state and local government, and economic development agencies in various states to help shippers identify ideal locations for new and expanded facilities. NS also provides free plant location services, including industrial park planning, site layout, track design and logistics assistance.
Industrial development efforts again were anchored last year by the energy sector, said Newell Baker, NS' assistant vice president of industrial development. The Class I helped attract 32 new or expanded energy-related facilities in 14 states across its service area.
"Marcellus and Utica shale gas exploration projects continued to play an important role, along with coal and power generating equipment," said Baker. "We were excited to see the first shipments of Bakken crude delivered to East Coast refineries in 2012, and we expect this subsector to grow significantly in 2013."
During the past 10 years, the industrial development department has participated in the location or expansion of 1,021 facilities costing about $28.7 billion, NS officials said.
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