(The following news release was distributed by CSX.)
JACKSONVILLE, Fla. — CSX Transportation (CSXT), the largest railroad in the eastern United States, announced today that it worked with a total of 110 companies on 117 projects to locate sites and facilities in its 23-state rail system. Through these projects, CSXT helped to spur a total of more than $1.8 billion in industrial development and bring more than 4,000 new jobs to 23 states and the Canadian province of Quebec in 2002.
“The year 2002 was a difficult one for our customers to commit significant plant expansion investments along our railroad system, given the tepid and uncertain economy,” said David Hemphill, assistant vice president-industrial development. “Even still, more than 100 companies located on CSXT, with the greatest activity in the automotive business unit.”
For example, last year CSXT’s development project with Hyundai Motor Company in Montgomery, Ala., resulted in new business that will transport approximately 20,500 carloads of motor vehicle parts annually. Hyundai is investing $1 billion in capital investment, which will create 2,374 new jobs for the surrounding community.
CSXT continued its success in the chemicals, paper & forest and metals business units, including the Home Depot building products distribution center in Norwood, Mass.; the Wellman Inc. plastics plant in Pearl River, Miss.; and the Kasle steel plant in Dearborn, Mich.
“Customers are increasingly selecting rail-served sites because rail is an economical, efficient and integral part of their logistics chains,” said Randy Evans, vice president-real estate and industrial development. “The location of new business and expansion of existing customers is a direct result of CSX’s company-wide focus to put the customer first.”
Through its industrial development program, CSXT has played a key role during the last eight years in helping approximately 867 companies locate and expand along its rail lines. Since 1994, CSXT has supported a total of $19.3 billion in new industrial expansion investment, creating nearly 53,000 jobs.
CSXT and its 34,000 employees provide rail transportation and distribution services over a 23,000 route-mile network in 23 states, the District of Columbia and two Canadian provinces. CSXT is a business unit of CSX Corporation (NYSE: CSX), and both are headquartered in Jacksonville, Fla.