Wednesday, April 24, 2013

Moorman to Congressional freight panel: “An incredible incentive to support railroads everywhere”

Written by  William C. Vantuono, Editor-in-Chief
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The U.S. needs “fair and clear long-term policies that encourage continued investment in railroad infrastructure, technology, and sustainability initiatives,” Norfolk Southern CEO Wick Moorman told a federal panel on April 24.

“Industries, jobs, and taxes want to go where the railroad is,” Moorman told the U.S. House of Representatives Transportation and Infrastructure Committee’s Special Panel on 21st Century Freight Transportation. “In the past decade, 1,021 new and expanded facilities located along Norfolk Southern rail lines, representing $28.7 billion in customer investment and generating more than 48,000 jobs. That’s just one railroad. What an incredible incentive to support railroads everywhere.”

Moorman discussed Norfolk Southern’s Crescent Corridor series of infrastructure improvements, as well as other initiatives, and said government “should remove regulatory impediments to enhancing railroad safety and efficiency, as well reduce the deficit and put the economy on sound footing.”

“Privately owned railroads are not only a barometer of the economy, but an essential element in solving this country’s freight transportation problems,” Moorman said. “We are planning for growth and investing for the future. I hope that, working with you, we all can look far ahead and do everything possible to make it happen.”

Rep. John J. Duncan Jr. (R-Tenn.) is chair and Jerrold Nadler (D-N.Y.) is ranking member of the Special Panel, which has a six-month charter to examine the current state of freight transportation in the U.S. and how strengthening freight transportation can strengthen the economy.

To read Moorman’s full statement, CLICK HERE. View presentation slides by clicking HERE.

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