(CSX issued the following news release on March 22.)
JACKSONVILLE, Fla. — CSX Transportation Inc. (CSXT), operator of the largest rail network in the eastern United States, announced today that in 2004 the company participated in 145 industrial development projects, attracting approximately $1.5 billion in investment capital and helping to create more than 4,500 new jobs in 17 states. This marks a 20 percent increase in the total number of projects where CSXT has helped its customers locate or expand, highlighting a positive three- year industrial development trend in which customers are increasingly using rail to position products closer to their markets.
“The high number of industrial development projects in 2004 demonstrates the growing demand in the rail system,” said Derrick Smith, CSXT vice president of emerging markets. “Customers are more and more using rail to better position their products closer to the markets they want to reach, as well as to improve their logistics efficiency.”
CSXT worked closely with state and local economic development authorities on projects involving site location and development of rail infrastructure designs to connect new customers to the CSXT rail system. Its new customers will generate more than 95,000 carloads to be transported by the railroad annually.
CSXT reported the greatest number of industrial development projects overall in Florida and Kentucky, where the company partnered with 35 industries to create more than 2,100 jobs and invest more than $557 million.
In 2004, CSXT saw the highest number of projects generated by plastics producers and receivers, representing more than $552 million in capital investment for the communities along the rail network. Other industries in which CSXT saw significant location or expansion activity during 2004 included scrap metal and steel processing plants, wood chips, municipal solid waste and construction and demolition debris facilities.
“Another major factor contributing to our increase in projects last year was our continued commitment to work with our shortline partners,” added Smith. “A total of more than 9,000 potential carloads of new business for CSXT can be attributed to 15 industries we assisted in locating on 11 CSXT connecting shortline railroads. As a result of collaborating with the shortline industry, CSXT has been able to expand its industrial development efforts and help businesses locate on the rail system.”
Presently, with more than 3,000 available rail-served sites along the CSXT network and sites on connecting shortline partners, the company can provide customers with first-class access to its extensive rail network, 20 eastern ports, and connections to major western railroads.
CSX Corporation (NYSE: CSX – News), based in Jacksonville, Fla., owns one of the largest rail networks in the United States. CSX Transportation Inc. and its 32,000 employees provide rail transportation services over a 21,000-mile route network in 23 states, the District of Columbia and two Canadian provinces. CSX Corporation also provides intermodal operations through another subsidiary.