(The following editorial appeared on The Capital-Journal website on July 9.)
TOPEKA, Kan. — A building block of Topeka’s past is providing a rare bright spot in today’s worrisome economy.
Railroads have long been a key part of the city’s economic landscape, so it’s been nice to see signs that the rail industry is chugging along quite nicely these days.
Among those indicators, U.S. News and World Report published a story showing that while the Standard & Poor’s 500 index was down more than 9 percent overall through roughly the first quarter of the year, the S&P’s railroad sub index was up about 7 percent.
A story in The Capital-Journal said Burlington Northern Santa Fe Railway and Union Pacific Railroad both reported profits at least 15 percent higher in the first quarter of 2008 than during the same period in 2007.
Another sign is one motorists see every time they stop at the fuel pump. High gas prices are good for the rail industry, as they make train travel and shipment by rail an increasingly attractive alternative to highway and air options.
Topeka is well-positioned to continue taking advantage of this railroad renaissance thanks to our rich heritage with the industry.
From nearly 150 years of experience, we’ve proved we know the train business.
One of the city’s founding fathers, Cyrus K. Holliday, also founded the Atchison, Topeka and Santa Fe Railway through a charter he received in 1859.
At one time, four major railways made their way through the city — Rock Island, Missouri Pacific, UP and the ATSF, which later merged with Burlington Northern to create Burlington Northern Santa Fe.
The railroads brought thousands of manufacturing and office jobs to Topeka, spinning off opportunities in retail, restaurants and other businesses, and helping shape the city.
Today, with railroads making a comeback, we encourage city leaders and lawmakers to support projects and legislation that would keep the industry moving forward.
Enhancements that could benefit Topeka include the Gardner intermodal rail hub project, which, according to BNSF, would boost regional rail traffic and provide spillover work for the BNSF repair shop in Topeka.
More opportunities may become available , as it’s hard to see why the industry would stop rolling along anytime soon.
There’s little indication that gas prices are going to decrease substantially, and the railroads themselves have made changes to become more competitive in the shipping industry.
For example, railways have started making freight cars of lighter materials, investing in alternative fuel research and added double and even triple track to keep trains moving without time spent parked on passing sidings.
Meanwhile, local officials have been examining a proposal to expand Amtrak passenger rail service available to Topeka riders. The proposal would create a link from Newton to Oklahoma City, which would allow riders to travel as far south as San Antonio from Topeka.
It’s an idea that could provide dividends not only for Topeka travelers but for local tourist attractions, restaurants and other businesses that would cater to visitors stopping on their way through.
In times when we’re being bombarded with bad news about so many sectors of the economy, railroads could be a silver lining for Topeka.