On April 24, 2013, Norfolk Southern (“NS”) CEO Wick Moorman spoke before the US House of Representatives Transportation Infrastructure Committee’s Special Panel on 21st Century Freight Transportation about the need to focus on long-term investments in railroad infrastructure. The NS CEO stated that “In the past decade Norfolk Southern helped locate 1,021 new and expanded facilities 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 stated that privately-owned railroads serve as both “a barometer of the economy” as well as “an essential element in solving the country’s freight transportation problem.” Moorman called for specific action from the federal government to aid private railroads in their indispensible function. First, the government must support and not hinder private railroad’s ability to invest and gain returns on investment in their own infrastructure. Second, the government must put the economy on sound footing. Third, the government must find sensible ways to allow private sector and partners invest in railroad projects.
Moorman’s full comments may be found at the Norfolk Southern website (PDF).