Norfolk Southern facilitates $2.1 billion in industrial investment in 2012
NORFOLK, Va., Jan. 4, 2013
NORFOLK, Va., Jan. 4, 2013 /PRNewswire/ -- Norfolk Southern Corporation (NYSE:
NSC)participated in the location of 64 new industries and the expansion of 30
existing industries along its rail lines in 2012.
New plants and expansions announced in 2012 represented an investment of $2.1
billion by Norfolk Southern customers and are expected to create more than
6,100 jobs in the railroad's territory, in future years potentially generating
more than 141,000 carloads of new rail traffic annually.
Norfolk Southern assisted state and local government and economic development
officials throughout 19 states in helping customers identify ideal locations
for new and expanded facilities.
"Our 2012 results were once again anchored by the energy sector," said Newell
Baker, assistant vice president industrial development. "Norfolk Southern
assisted in the location or expansion of 32 energy-related facilities in 14
states across our service area. Marcellus and Utica Shale gas exploration
projects continued to play an important role, along with coal, and power
generating equipment. 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. In addition, the continued rebound in the
metals and automotive markets during 2012 played an important role for us and
for our service area."
The balance of other projects secured during 2012 was distributed among
several of the broad product areas Norfolk Southern serves.
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 logistics assistance. During the past 10 years, Norfolk Southern's
Industrial Development Department has participated in the location or
expansion of 1,021 facilities, representing an investment of $28.7 billion by
NS customers and generating more than 48,000 jobs by those NS customers
companies in the territory served by the railroad.
Norfolk Southern Corporation is one of the nation's premier transportation
companies. Its Norfolk Southern Railway 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
and industrial products.
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