June 1, 2020
North Carolina Railroad Company Invests in Freight Rail Infrastructure to serve Charlotte Pipe and Foundry
The North Carolina Railroad Company (NCRR) is one of several partners named in the recent announcement that Charlotte Pipe and Foundry will be relocating its production facility from Charlotte to Stanly County. Charlotte Pipe and Foundry is a North Carolina-based manufacturer and distributer of cast iron and plastic pipe fittings with seven production facilities across the United States.
Charlotte Pipe and Foundry will construct a new, state of the art manufacturing facility at a site in Oakboro, an investment of $325 million. Charlotte Pipe and Foundry employs 1,050 in Mecklenburg, Union and Stanly counties, with 400 of those to be relocated to the Oakboro, NC facility. Through the North Carolina Railroad Company’s economic development initiative, NCRR Invests, NCRR is investing approximately $1.5 million to assist with the construction of a railroad industrial lead track and switches, and related infrastructure. The new manufacturing plant will be served by the Aberdeen, Carolina and Western Railroad with access to both Norfolk Southern and CSX.
“Rail infrastructure is extremely important in attracting high quality, capital intensive manufacturers and distributors to our state,” says NCRR President, Scott Saylor. “Occasionally those companies need room to expand their site footprint or operation. Through NCRR Invests, we are able to assist in addressing the freight rail infrastructure needs of companies like Charlotte Pipe and Foundry in order to retain jobs during this crucial moment for our economy, as well as enable future growth opportunities.”
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 put the North Carolina Railroad Company to work for the good of the people of North Carolina and improve our state by expanding freight rail opportunities to grow business, enabling rail to move people and investing in North Carolina.
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.