March 7, 2023
North Carolina Railroad Company Invests $1M in New Rail-Served Site in Lexington, N.C.
The North Carolina Railroad Company (NCRR) was recently named one of several partners involved in Siemens Mobility’s project to open a new east coast manufacturing facility for railroad rolling stock products in Lexington, North Carolina. All told, Siemens Mobility will build a $220 million manufacturing facility and bring 506 new jobs to Davidson County.
Siemens Mobility, headquartered in Munich, Germany, has been a global leader in the production of transportation solutions for more than 160 years. With over 39,000 employees worldwide and an existing manufacturing facility on the U.S. west coast, Siemens Mobility’s 506 new jobs will pay an estimated 114% of Davidson County’s average annual wage.
Through NCRR’s economic development initiative NCRR Invests, NCRR is investing approximately $1 million to assist with the costs of construction and materials needed for Siemens Mobility’s new on-site rail infrastructure operations in Davidson County. This project will produce an estimated 264 rail cars per year at build-out and significantly contribute to North Carolina’s railroad industry.
“The North Carolina Railroad Company is thrilled to partner with Davidson County, the City of Lexington, the North Carolina Departments of Commerce and Transportation and many others who made this incredible opportunity a reality,” said Carl Warren, NCRR President & CEO. “This project is a significant achievement; it not only creates jobs for North Carolinians and investment for the state, but also continues to position North Carolina as a leader in the rail industry.”
Additional partners include the North Carolina General Assembly and Norfolk Southern.
About the North Carolina Railroad Company
The North Carolina Railroad Company is a private corporation whose voting stock is owned by the State of North Carolina. The Company manages the use of 317 miles of track and property stretching from Charlotte to the Port of Morehead City. The Company’s mission is to benefit North Carolina by aggressively leveraging the unique strengths and capabilities of the North Carolina Railroad Company. Our vision is a modernized railroad that meets the needs of the future, expanding North Carolina’s competitive advantage.
About NCRR Invests
NCRR Invests provides assistance to companies that take advantage of the state’s freight rail opportunities and create jobs by locating or expanding their business in North
Carolina. The goal of any NCRR investment is to drive job creation and economic growth.