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CSX Customers Announce $9.5 Billion in 2016 Investments

1/11/2017 10:01:14 AM
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JACKSONVILLE, Fla., Jan. 11, 2017 (GLOBE NEWSWIRE) -- CSX (Nasdaq:CSX) worked with its customers in 2016 to announce 114 new or expanded facilities to be located on the company’s rail network or connecting short lines. These new projects represent $9.5 billion in customer investments that are expected to generate approximately 8,100 new jobs in areas served by CSX.

“The substantial capital investments announced by our customers last year included a new automotive plant and an ethane cracker facility to further leverage abundant domestic natural gas supplies,” said Derrick Smith, vice president-strategic business development. “We also saw strong activity that generated other energy projects as well as facility construction or expansion to support agriculture and intermodal markets. These projects rely heavily on the teamwork among CSX and the local, county and state economic development professionals who ensure these projects are completed successfully. We thank them for that collaboration.”

Once these facilities are fully operational, they are projected to generate more than 136,000 new annual carloads for CSX. In addition to these projects that will be built over the next several years, more than 100 customer facilities on CSX began operations in 2016.

Since 2000, CSX customers have invested more than $51 billion in rail-served facilities, creating more than 70,000 jobs at those plants, distribution centers and other enterprises across the company’s 23-state network. To support rail-oriented industrial development, CSX’s Select Site program pre-certifies properties that are suitable for manufacturing use. These sites meet rigorous criteria to increase development probability and reduce time and costs for CSX customers. Customers considering a new or expanded facility can learn more about CSX Select Sites at http://www.csxselectsite.com or at www.csxindustrialdevelopment.com.

CSX provides service via an extensive network that connects to nearly two-thirds of the nation’s population and serves more than 70 ocean, river and lake ports. CSX can move a ton of freight an average of nearly 450 miles on a single gallon of fuel, and one train can carry the equivalent load of 280 trucks, reducing carbon emissions and wear and tear on public roads.

About CSX

CSX, based in Jacksonville, Florida, is a premier transportation company.  It provides rail, intermodal and rail-to-truck transload services and solutions to customers across a broad array of markets, including energy, industrial, construction, agricultural, and consumer products.  For nearly 190 years, CSX has played a critical role in the nation’s economic expansion and industrial development.  Its network connects every major metropolitan area in the eastern United States, where nearly two-thirds of the nation’s population resides.  It also links more than 240 short-line railroads and more than 70 ocean, river and lake ports with major population centers and farming towns alike.  More information about CSX Corporation and its subsidiaries is available at www.csx.com. Like us on Facebook (http://facebook.com/OfficialCSX) and follow us on Twitter (http://twitter.com/CSX).

Gary Sease
(904) 359-1719

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