November 25, 2014
North Carolina Railroad Company Pursues $13 Million in Economic Development Investments
The North Carolina Railroad Company (NCRR) Board of Directors has approved moving forward with more than $13 million in economic development investments across the state.
The investments will expand rail access, improve safety and sustain rail projects spanning from Mecklenburg County northeast to Durham County, and from Durham County southeast to Wake and Craven Counties.
The NCRR makes strategic investments like these for the good of the people of North Carolina by committing millions of NCRR revenues (non-taxpayer dollars) to build improvements in rail and fuel economic progress along and beyond the NCRR corridor.
“Our mission is to enable freight to grow business, expand rail to move people and invest in North Carolina,” said NCRR President, Scott Saylor. “We’re committed to working with local, state and private partners in planning for freight and passenger rail mobility now and in the future. 2015 will bring even more investment forward to attract much-needed capital intensive employers to our state.”
In 2013, the NCRR enhanced its commitment to economic development and progress across the state with the adoption of a new strategic plan, which focuses on job creation and retention.
“The strategic plan is a proactive roadmap that focuses on freight traffic, both on the corridor and off-line, to drive economic development and create jobs,” said Franklin Rouse, chairman of the NCRR Board of Directors.
“The plan also helps stakeholders better understand the work of the NCRR and how it collaborates with both private interests and state agencies.”
NCRR’s latest investment announcement emphasizes the company’s dedication to expanding contributions to North Carolina’s well-being through rail-served manufacturing jobs, capital improvements, community involvement and safety.
“Access to rail-served sites attracts businesses like ours, helps us grow and creates jobs in our state,” said Argyle Campbell, CEO of California based Cambro Manufacturing. “We chose to expand our operations here in North Carolina for many reasons, but chief among them was a strong, efficient transportation system.”
Since 2000, the NCRR has invested more than $80 million in capital improvements and has committed to invest over $60 million for economic development through 2020.