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The Commonwealth Transportation Board (CTP) earlier this month approved a rail industrial-access grant that will improve rail access for Norfolk Terminal LP and increase exports from the Port of Virginia.
The $450,000 grant, issued through the Virginia Department of Rail and Public Transportation's (DRPT) Rail Industrial Access Grant program, will help fund the construction of a new rail yard at Norfolk Terminal’s expanding facility.
The grant will enhance the company's $61 million capital investment project to receive, store, package and ship products through the Port of Virginia. Norfolk Terminal’s 10,815-foot rail siding is expected to divert 10,200 trucks from Virginia’s highways per year by use of the rail network, according to a DRPT and Virginia Department of Transportation press release.
The construction of the industrial side track is critical to Norfolk Terminal's phase one capacity expansion, which also will create 31 additional jobs. The company is partnering with the city of Norfolk on workforce development, focusing on hiring individuals transitioning from active military duty as well as graduates of local colleges with degrees in maritime or logistics.