Norfolk Southern CEO Moorman supports the long view before U.S. House rail
WASHINGTON, April 24, 2013
WASHINGTON, April 24, 2013 /PRNewswire/ --America needs fair and clear
long-term policies that encourage continued investment in railroad
infrastructure, technology, and sustainability initiatives, Norfolk Southern
(NYSE: NSC)CEO Wick Moorman told a federal panel today.
"Industries, jobs, and taxes want to go where the railroad is," Moorman told
the U.S. House of Representatives Transportation and Infrastructure
Committee's Special Panel on 21^st Century Freight Transportation. "In the
last decade, 1,021 new and expanded facilities located along Norfolk Southern
rail lines, representing $28.7 billion in customer investment and generating
more than 48,000 jobs. That's just one railroad. What an incredible incentive
to support railroads everywhere."
Moorman discussed Norfolk Southern's Crescent Corridor series of
infrastructure improvements, as well as other initiatives, and said government
should remove regulatory impediments to enhancing railroad safety and
efficiency, as well reduce the deficit and put the economy on sound footing.
"Privately owned railroads are not only a barometer of the economy, but an
essential element in solving this country's freight transportation problem,"
Moorman said. "We are planning for growth and investing for the future. I hope
that, working with you, we all can look far ahead and do everything possible
to make it happen."
Rep. John J. Duncan Jr. (R-TN) is chair and Jerrold Nadler (D-NY) is ranking
member of the Special Panel, which has a six-month charter to examine the
current state of freight transportation in the U.S. and how strengthening
freight transportation can strengthen the economy.
To read Moorman's full statement, click here. View slides here.
Norfolk Southern Corporation (NYSE: NSC) is one of the nation's premier
transportation companies. Its Norfolk Southern Railway Company 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, automotive, and industrial products.
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