NORFOLK, Va., Jan. 11, 2018 /PRNewswire/ -- Norfolk
Southern (NYSE: NSC) assisted 75 industries in locating or
expanding their business operations along its rail lines in
2017.
The 54 new and 21 expanded industries across 17 states represent
an investment of $1.1 billion by
Norfolk Southern customers. This economic development is expected
to create nearly 2,000 new customer jobs in the railroad's service
area and generate over 147,000 carloads of new rail traffic
annually.
"The strong industrial development activity in 2017 is an
indication of renewed confidence on the part of industry and
consumers, as well as continued demand for freight rail service,"
said Jason Reiner, assistant vice
president industrial development. "The results include a mix of
manufacturing, energy, and foreign-trade related business, and we
believe we have an encouraging pipeline for growth entering the new
year."
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. Norfolk
Southern provides free and confidential facility location services,
including industrial park planning, site layout, track design, and
supply-chain analysis. During the past 10 years, NS' Industrial
Development Department has participated in the location or
expansion of 922 facilities representing private investment of over
$60 billion and creating nearly
41,000 direct new customer jobs in territory the railroad
serves.
About Norfolk Southern
Norfolk Southern Corporation (NYSE: NSC) is one of the
nation's premier transportation companies. Its Norfolk Southern
Railway Company subsidiary operates approximately 19,500 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.
Forward-looking statements
This news release
contains forward-looking statements that may be identified by the
use of words like "believe," "expect," "anticipate," "estimate,"
"plan," "consider," "project," and similar references to the
future. Forward-looking statements reflect our good-faith
evaluation of information currently available. These
forward-looking statements are subject to a number of risks and
uncertainties, and our actual results may differ materially from
those projected. Please refer to our annual and quarterly reports
filed with the SEC for a full discussion of those risks and
uncertainties we view as most important. Forward-looking statements
are not, and should not be relied upon as, a guarantee of future
performance or results, nor will they necessarily prove to be
accurate indications of the times at or by which any such
performance or results will be achieved. As a result, actual
outcomes and results may differ materially from those expressed in
forward-looking statements. We undertake no obligation to update or
revise forward-looking statements.
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SOURCE Norfolk Southern Corporation