Customers of Norfolk Southern Corporation advanced nearly 150 industrial development project totaling $4.3 billion for new or expanded facilities in 2024, the company said Wednesday.
Of the 149 projects, about half (43 percent or 65) reached completion or began shipping with the company, representing $1.2 billion in investment and 1,700 jobs, the company said.
The projects are a subset of an industrial development pipeline of more than 450 projects identified by Norfolk Southern customers as necessary for future growth. Officials estimate the pipeline is expected to generate more than 150,000 incremental carloads for Norfolk Southern and support more than 9,000 new jobs and $9 billion in customer investment for regional economies.
“The active pipeline of $9 billion in customer investments along our network reflects the value businesses place in rail as a cornerstone of their supply chains,” Norfolk Southern Exec. VP and chief marketing officer Ed Elkins said. “As we look ahead to 2025, we are intensifying efforts to enhance our portfolio of development-ready sites, laying the groundwork so customers who select Norfolk Southern’s rail-served properties will benefit from accelerated speed-to-market along with sustainable and reliable transportation solutions.”
The rise in industrial development activity was seen in many sectors, including steel and metals production, plastics, renewable fuels, component manufacturing for power generation and cold storage, food processing and pet food production.
The company said it has sharpened its portfolio of rail-served industrial sites, and received recognition for the sites it serves. Three of its PRIME sites have received the Readiness Evaluation for Development and Investment in 2024, given to sites that have undergone assessments from site selection consultants.
“These designations underscore Norfolk Southern’s dedication to making site selection easier for companies that rely on rail to meet their supply chain needs,” Craig Hudson, GVP of Industrial Development at Norfolk Southern, said. “By investing in development-ready sites across our network, we are helping companies make informed decisions, positioning them in locations optimized for rail connectivity and logistical efficiency. This approach not only supports their growth but also strengthens the economic vitality of the communities we serve.”