Customers of short line operator Genesee & Wyoming invested $1.5 billion last year in 69 projects that will utilize proximity to G&W’s network.
Investments presented all major commodity groups, with chemicals and plastics, minerals and stone, and agricultural products leading the investments.
“Based on last year’s customer investments, G&W’s freight transportation services continue to be critical to companies’ logistics strategies and the greater supply chain,” said G&W Chief Commercial Officer Mike Peters. G&W operates 103 U.S. freight railroads.
“Going forward, we expect companies to increasingly look to rail transportation to meet Environmental, Social and Governance (ESG) targets, and we are prepared to assist them in finding sites and services that help reach those goals,” Peters said in a Wednesday release.
G&W says it has a database of more than 600 potential industrial complexes, parks and other properties across its U.S. footprint, as well as a catalog of more than 200 transload locations.
Among the dozens of projects are the following:
Earlier this month, BNSF said its customers invested $1.5 billion in projects along BNSF’s network in 2021. These projects included consumer, agricultural and industrial projects among the “wide variety of commodities” pursuing industrial development.
Last year “marked the 11th consecutive year that BNSF customers and local economic development organizations have invested more than $1 billion in a calendar year for new or expanded facilities,” BNSF said.
Among the larger investments were the following:
“The success of BNSF’s rail development program is a result of our employees working with our customers to build unique supply chain solutions that fit their distinctive needs,” said Chris Danos, assistant vice president of economic development. “Flexibility is the key to helping our customers maximize their investments, saving them development costs and expediting their speed to market.”
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Source: freightwaves - Genesee & Wyoming, BNSF say customers spent billions to be near rail
Editor: Joanna Marsh