NORFOLK, Va. and ATLANTA, Dec. 12,
2018 /PRNewswire/ -- Norfolk Southern Corporation (NYSE:
NSC) today announced plans to relocate its headquarters to
Atlanta.
"Alignment, collaboration, and accountability are the hallmarks
of Norfolk Southern's plan to transform this company and its
culture. Our new headquarters in Atlanta advances these key elements of
success," proclaimed Jim Squires,
chairman, president and chief executive officer, addressing
employees this morning. "Our potential has always been great and
now is greater still, as we bring together all of our headquarters
functions into a single, integrated team."
"Norfolk Southern is grateful to the city of Norfolk and the commonwealth of Virginia for their support of our company over
the last three plus decades," Squires continued. "We look forward
to the continued growth of our business in the commonwealth as the
many operating employees who remain serve the customers and promote
economic development in this integral part of our network."
"As a major hub for both transportation and innovation,
Georgia is a fitting home for
Norfolk Southern's new headquarters," said Georgia Gov. Nathan
Deal. "As the No. 1 state for business six years in a row,
Georgia has become a preferred
location for industry leaders such as Norfolk Southern who seek an
expansive infrastructure network, a culture of collaboration, and
ready-to-work communities. This announcement also reinforces
Georgia's distinction as the
Southeast's gateway to global commerce. We appreciate Norfolk
Southern's significant investment in Fulton County and look forward to celebrating
the company's future growth and continued success."
Atlanta Mayor Keisha Lance Bottoms added, "With a shared
history dating back to 1846, we are proud Norfolk Southern now
calls Atlanta home. This
relocation was made possible, in part, by the passing of the Gulch
deal and is a reminder that great things happen when our public and
private sectors work together. Norfolk Southern will be a great
addition to our city, and I look forward to partnering with them as
we work to build One Atlanta."
To create its new headquarters, Norfolk Southern is in advanced
discussions to purchase a site from Cousins Properties at 650 West
Peachtree St. NW, in the heart of Midtown Atlanta's growing
intersection of corporate, technological, and academic power. In
addition, Norfolk Southern intends to engage Cousins Properties to
manage the development of its new headquarters. Details of this
engagement are expected during the first quarter of 2019.
Progress on Norfolk Southern's move to Atlanta has already commenced and will span
the next several years as the new headquarters is constructed.
Squires concluded, "Norfolk Southern values Atlanta's vitality and looks forward to
contributing more of our own energy to its business, social, and
community environments."
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.
Cousins Properties (NYSE: CUZ) is a fully integrated,
self-administered and self-managed real estate investment trust
(REIT) based in Atlanta, Georgia.
Founded in 1958 by Tom Cousins, the
Company has extensive expertise in development, acquisition,
leasing and property management of Class A office towers.
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SOURCE Norfolk Southern Corporation